This is a 2nd repost and here is the Original link, here is also the first repost link. I wish something could be done

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reef.io

Hi all,

It's a pleasure to start this trading contest this week so as to put all my knowledge obtained from the steemit crypto academy into practice. I'm very happy for this initiative because it will enable us to start building our portfolio and knowledge about carrying out live trading. I will happily be joining the team 1 which is led by me @dilchamo and @shemul21 for this week and the name is TEAM FRONTLINE

1. The name and introduction of the project token, and which exchange can be traded on, project/technical/team background

REEF Project

REEF is known as Reliable Extensible Efficient Fast layer-1 blockchain mainly for NTF, Gaming and DeFi which are build using framework of substrate which enables a very low cost fee transactions. This project can support solidity, provide high level of Scalability and EVM by enabling developers to harmoniously shift their dApps without any codebase change from Ethereum and this REEF chain is the most advanced EVM compatible blockchain.

This REEF chain usually intergrate mostly the best feature from all the most frequently use blockchain at thesame time maintaining a closeness of a full smart contract

Denko Mancheski created the reef token and the main idea about this token is to simplify a DeFi and make it available to each and everyone simply by connecting different Blockchains in just one platform. By connecting this DeFi in different platforms will be much more accessible by enabling people earn a lot of money just by trading this REEF token without any worries about any convertibility

REEF Exchanges

Screenshot from [coinmarketcap.com](https://coinmarketcap.com/currencies/reef/

Screen fromreef io

Currently REEF can be traded on Binance, Huobi, Bitfinex, FTX and so many other exchanges but it's highly traded on Binance which is also the exchange I will be using to trade this coin on

Screenshot from coinmarketcap.com

Looking at the screenshot above, we can see that REEF token is ranked #256 with a total supply of 18.28 B, a market cap of 186,624,494 and a total volume of 186,492,539

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Screenshot from coinmarketcap.com

From the screenshot above, we can see that this coin was created on 12/29/2020 with an all time high of $0.05841 which happened few months on the 02/13/2021 and all time low $0.006623

reef.io

We can see that the REEF Chain is the Blockchain for next generation DeFi DApps with a lot of interesting features because it nominates proof of stake consensus, on chain upgradable, EVM extension, state of art cryptography and libp2p

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Source

This project has a good roadmap project which is built on the Polkadot which attempt to simply it and this REEF is the first crypto crosschain operating system inside the DeFi which faster the transfer of both liquidity and tokens between different types of Blockchains even including DEXs and CEXs and this REEF token is use as a native currency within the reef ecosystem

2. Why are you optimistic on this token today, and how long do you think it can rise?

REEF token is not quite known like the BTC, ETH etc but it has gain popularity just of recent even though it's

Reef Coin was a fairly unknown an unknown crypto coin but has recently gained ground and popularity even though it's current on dip just like many other coins including giant coins such as BTC and ETH but I decided to be optimistic about it's bullish movement today simply because of the analysis I carried out which made me to have full confidence about it's bull movement.

When analyzing it, I met a major support then applied Technical Analysis by using two triple Exponential Moving Average together with an RSI indicator and discovered it could possibly revers by turning the price to upside. So from there I saw that the price could rise again

3. How to analyze the token? (Using the analysis knowledge learned from professors’ courses

Performing Buy-Long On REEF/USDT pair

Screenshot taken from tradingview.com

From the REEF/USDT chart above, I used the triple Exponential Moving Average strategy where I had to choose 5Mins timeframe since I'm an intraday trader. What I did is that I first of all went to 1hr time frame so as to identify my major support and resistance levels

We can see that there was a crossed over of shorter period TEMA(TEMA-21) as it crosses above the longer period TEMA(TEMA-51). This caused the movement of the REEF/USDT price to break above the TEMA line by confirming that there was a lot of high buying pressure in the market I also confirmed this looking at the confirmation from the RSI Indicator as the indicator line had break above the 50 mark by indicating that the buying pressure was actually increasing.

Screenshot taken from tradingview.com

I had to then execute my buy order on my verified Binance App which I choose future trading by taking by my entry at $0.00983, with my 1st takeprofit at $0.01024, my 2nd takeprofit at $0.01053 and a stoploss at $0.00965. My Risk to reward ratio was R:R = 2:1

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Screenshot from Binance

The screenshot above is the Realized PNL which is 1.465944USDT and it is the first profits made from my first target of 50% of my staking amount

4. Your plan to hold it for a long time or when to sell?

You can see I use future trading for intraday which is just to look for an opportunity on the market and enter the market then come out with profit at the end. So in essence I don't plan to whole this coin. After buying the coin, I will then sell it and take home my profit then use it in other trades since I'm an intraday trader not a long term trader.

This is because an intraday trader usually look for good opportunities in the market so as to enter for a short period of time then come out with Profit. So I just saw an opportunity which I did enter. Once it enter, I take my profit then sell it and continue trading on other coins which I fine opportunities in the market

5. Do you recommend everyone to buy and the reasons for recommending/not recommending?

All information carried out about the REEF token both fundamental and Technical are perfectly very good but I recommend everyone to also Carry out his or her own analysis before taking any decision in the market

I say so because my information especially the technical analysis are based on the current price of the token which I could still advice any one entering the market now can follow my strategy but also recommend them to do other analysis before concluding on the fact that the market of the REEF will bounce back and reverse to the upside just like it did in my case

Conclusion

I have come to the end my trading practice and I was successful at the end because my trade had hit it's target at 100% which I took home a profit of about $3 from all my total takeprofit after carrying out a technical analysis on the price by combining two TEMAs ( one short and one long) with the RSI indicator because I successfully Identified on the 1hr timeframe the major support and resistance then I also set my proper take profit and stoploss. So I'm extremely glad to have acquired little profit from my trade

CC
@shemul21