Hello Steemians, the 2nd week of Season 6 in Steemit Crypto Academy has ended. The week ran from Sunday 00:00 am 13th February 2022 to Saturday 11:59 pm 19th February 2022. This is the first report since the academy shifted its studies to mainly cryptocurrency trading related.
This week, we discussed one of the important technical analysis tools in the financial market which is price action. Understanding past prices and their movement in the market gives the basis of price action. Retail traders' emotions and psychology are discounted on price and understanding this behavior on the chart help to determine key price information.
Also, we discussed multi-timeframe analysis. The crypto market is highly volatile and sometimes it is very difficult to understand price patterns due to irregular fluctuations of price. Multi-timeframe analysis plays a great role in our technical analysis today. With multi-timeframe analysis, a trader can have a vast knowledge about the current situation of price by looking at the same chart on different timeframes.
The lesson aim at the following:
- Understand price action.
- Understand the importance of price action.
- Understand the Japanese candlestick chart and its importance.
- Understand multi-timeframe analysis and its importance.
- To understand how to find better entries in the market using multi-timeframe analysis.
- To effectively carry out a multi-timeframe analysis on a crypto chart.
To be honest, I'm impressed with the improvement of homework tasks submitted. There is a lot of improvement in presentation, writing skills, and chart analysis. The majority of the users are still struggling to carry out effective technical analysis on crypto assets. This can be tagged as the inability to spend quality time understanding the lesson before answering the questions.
One problem I will emphases on is the inability of the students to comply with the homework task. The multi-timeframe analysis aims to improve the efficiency of the signals in the market. This can be getting better entries, filtering noise, and also understanding the market direction. Some of the users were unable to carry out a multi-timeframe analysis properly which affected their grades in the homework tasks. We urge students to spend quality to understand the lesson and also in performing the homework task.
At the end of the week, we had 87 entries. The task distribution is as follows:
- 85 Valid Entries
- 2 Invalid Entries
- 0 Plagiarised / Spun Content.
This can be further shown in the bar chart below.
Grade Statistics
Reference
- Plagiarized content refer to users who copied someone else’s idea without referencing the original source.
- Below average refer to grades below 5.
- Average refers to grades within 5 and 5.9
- Good refers to grades within 6 and 8.9
- Excellent refer to grades within 9 and 10.
- Invalid entries are for posts from users who are not eligible to perform the task. Also, late entries are for participants who submitted before the scheduled time which is 11:59 pm UTC, on Saturday 19th February 2022. Participants who do not meet the requirements for #club5050 are also in this category.
The chart above shows the overall performance of the participants in the homework task. From the chart, we have 32% of the participants who scored above grade 9. Also, 59% of the participants score between 6 and 8.9. This means we have a combined 91% of the participants who scored above grade 6. Like I said in the previous section, this impressive performance is a result of improvements in the quality of homework tasks submitted.
2% of the users scored below average score. This can be tagged as the inability to spend quality time to understand the lesson before performing the homework task. 2% of the homework tasks were disqualified from farming accounts. There was no case of plagiarism nor spun contents detected.
The chart below shows the scattered plots with an average score of 8.23.
Top 3 Homework Task
Below are the top three homework task with an outstanding performance.
| Username | Homework link |
|---|---|
| @minikay | Homework post link |
| @msquaretk | Homework post link |
| @azamrai | Homework post link |
Conclusion
Special thanks to everyone who participated in this week's homework task. The performance from the submissions is great with 91% of the participants scoring above grade 6. The academy is now focused on cryptocurrency trading with exciting courses being delivered to improve our understanding of the market. Always ensure you maintain proper risk management when implementing these strategies in the market.
Cc:
@steemitblog
Thank you Prof. @reminiscence01 for the good work.
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Hi professor @reminiscence01, thank you very much for this encouragement and appreciation.
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