Hello community friends ,

Greeting from @mrdani12 to all my beautiful friends , Today I am going to take participation in steemitcryptoacademy community , Today I am going to participate in weekly steemit contest , which is about mastering the sharkfin model for trading .

Explain the concept of the Sharkfin model. What is a Sharkfin pattern and how can it be identified on a price chart? Describe its main visual characteristics.

Lets discuss the concept of mastering the the sharkfin model for trading , Sharkfin model is the analysis pattern use in trading market to analysis the price potential moment . Sharkfin model is very beneficial for some traders because the charts of sharkfin is appear in V shape in which the market price make a Big moment in Upward and then immediately downtrend start in market and mostly trader sell the asset and finally the market price get lower.

visual character of sharkfin model

The main visual character of sharkfin model is the chart go bearish and then quickly take turn to upward trend and finally the fall of charts start and downward trend get started .

Explain how the RSI (Relative Strength Index) indicator can be used to identify Sharkfin patterns. Give a real-world example of RSI metrics (like overbought and oversold levels) and explain how these metrics help spot Sharkfins.

Relative Strength Index

The RSI is the indicator which measure the movement of price in the market , The RSI value above 70 regarded as a overbroght and RSI below 30 is regarded as a oversell .

The RSI indicator can be use to identify the sharkfinpatterns because it help to aware the trader about the oversold and overbuying position of the market . It range from 0 to 100 , Understanding the RSI value is also very important Typically
an RSI value above 70 indicator to trader that the overbought is done in market and now market will take a pullback and changer the trend. RSI below 30 indicate that the oversold is in full potential and now it chance that the market will be in bearish trend and fall quickly. The concept of reversal uptrend and downtrend will be clear from the chart more .

How RSI Metrics Help Spot Sharkfins

RSI metrics help traders to inform them about the bearrish and bullish price movement of market in sharkfin model for trading , This help trader to get more profit with great margin .

What are the trade entry criteria when using the Sharkfin model applied to the Steem token? Describe the specific signals you are looking for before entering a position, using example price setups and indicators.

Trade entry criteria for sharkfin model

For entry to trade in sharkfin model first we have to analysis the market and aware about the sharkfin model , Sharkfin model is the chart which appear in V Shape , first a little downfall then the trend change and overbroguht is regarded when the RSI is above 70 and reaching to the peak , after that when the RSI is going to drop the trending is going toward downfall and the market is oversell that why the trader get aware about the downtrend and sell their assest before the market make then in loss .

Volume analysis

Volume analysis is also very important because If you want to be a successful trader you need to focus on your market volume , As a steem coin you need to focous on volume analysis , if the volume is increase you the up trend of price start many traders start buying the steem to make profit .

Describe the trade exit criteria for a Sharkfin model applied to the Steem token. What signals or conditions tell you it is time to exit a position?

It is very important for traders to think about the market that they are in profit or loss , Also they need to manage their risk , In this sharkfin model mostly traders get their profit and take an exit from the market .

For steem token if the price of steem is at the peek and traders know that this is sharkfiin model , At the peek of v shape they need to exit from the market to get maximum profit from the market . If the RSI is above 70 and then Take Reversal before the reversal they need to take profit and exit as soon as possible , other wise they will face loss in the market.

Show a detailed example of a transaction based on the Sharkfin model on the Steem token. Use real charts and historical data to illustrate your trade, including entry and exit points, and the reasoning behind each decision.

I am begineer in trading and in learning phase , first time I research on this topic and know about sharkfin model which is interesting for me , This model is not widely recognized by many traders but it is very important and profitable .

I can't trade on steem token and not have a historical data but I can give an example which can clear this question . I can easily give an example to clear this question.

Entry point for steem :

In 15 december The price of steem is 0.60$ , this is a best oppurtunity to entry point for steem token, This indicate that the price of steem will be uptrend soon , and this is good opportunity for trader to enter to the market.

Reason behind entry :

Assuming that the in sharkfin model the price of steem is downtrend and this show that the price is going to me up trend soon and this will give you more profit in sharkfiin model . This opportunity have never miss by every trader and get their profit and the uptrend start .

Exit point for steem :

In 20 December the price of steem is 0.75 $ this is a good chance for trader to exit from the steem market and get 0.15$ profit in every steem ,

Reason :

Like entry the market is now in peak price and trader need to exit from the market to get their profit .

This is all about from my side , hopefully you have learn something new from me , I am also beginner but I am searching from 2 day about this topic , I was first time meet with this topic , that why it is little bit difficult for me to understand but now I fully understand this topic .

All the content is mine .

thumbnail is made by me on canvas.

Your Best Regarded @mrdani12