The shorter the time scale chart the earlier the entry and exit signals are triggered so you need to pick a point in time where a trend change on the daily chart is most likely to occur.
The current bounce is coming off way oversold RSI and approaching an old unfilled breakaway gap. The chart below shows a buy signal on the 30 min chart that coincided with the oversold RSI on the daily chart at a point where a bounce would be considered likely to happen.
Conversely have a look higher up the chart where I have shown the whipsaw area where the 9 & 21 EMA,s crossed from buy to sell multiple times while the stock was trending sideways . This is day trader landscape where you need to be sitting in front of the screen all day and have a super fast reliable software package and a reliable broker platform.
When I am day trading indexes or commodities I use a 5 minute time scale chart .
Investors should stay focused on the daily time scale chart ( IMO)
Daily
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