STEEMIT PAKISTAN Schooling - Crypto Training Class #03 by Cryptokraze | How to Buy the Dip Correctly
Dear Fellows,
We had our 3rd training class on Zoom on Tuesday in regards to Steemit Pakistan Schooling. I have started Crypto training classes and we discussed "How to Buy the Dip Correctly" in 3rd session and I am going to share the session video recording and highlights in this post.
Key Highlights of Session
The Zoom session started at 10 PM as agreed and all the members were welcomed by @haidermehdi and @cryptokraze.
The importance of buying the dip at right time was explained by @cryptokraze because most of the new traders don't know exactly when to buy the dip and they get themselves trapped in buying early.
Then, the importance of using 50 EMA was explained that how it can help spot the trend reversal easily and we can exit our trades.
In case of an uptrend, we need to buy the dip when the price pulls back to 50 EMA, consolidates for some time and then leave the EMA.
The trend shifts when price crosses the 50 EMA and then we wait for price to retrace to 50EMA, consolidates and push down. We can go in sell positions as explained in the above video session.
When price makes a sharp dip as bitcoin did on the training class day, then we have to wait for two patterns to be formed called sharkfin pattern(V shape) and double bottom pattern (W shape).
Whenever, price makes one of these patterns and crosses the 50 EMA on upside, that is the right time to buy the recent dip.
In recent dip, bitcoin has made a sharkfin pattern (V shape) and moved up that shows the authenticity of this method of buying the dip correctly. I predicted the buying zone around 32000-33000 region and you can see bitcoin price has gone above 38000 that make 1:2 RR on this trade.
Sharfin Pattern (V shape), A perfect trade to buy the dip for 2X Profits
Lastly, concluding remarks were given by @cryptokraze and thanking remarks were given by @haidermehdi and the session was ended with a positive vibe.
This is a small effort by @cryptokraze to educate my fellow steemians and by any means, I am not trying to give the impression that I am the best trader. We all will learn together and everyone is open to share their opinions because anyone can be correct when it comes to predicting the probabilities in the financial trading market.
Disclaimer
All the training contents provided by @cryptokraze will be solely for educational purposes and should not be considered financial advice. Past trading performance results can never be a guarantee of future results.
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