Question 1
What is your understanding of Sharkfin Patterns. Give Examples (Clear Charts Needed)

What is a Sharkfin?

A sharkfin is an extreme over extension of the RSI breaking out of the bollinger bands on our TDI. Sharkfins happen on every time frame and nearly every day. If there is some volume going on in the market, there's more than likely going to be some shark fins in the market.

To identify a sharkfin partern there will be a fast move of bullish or bearish that will eventually form a shape of V or Inverted V. Then can call that a Sharkfin pattern.

In a bearish market, it moves quickly then it makes a quick reverse move to upwards. Also, in bullish market, it moves quickly then it makes a quick reverse downwards.

Examples Of Sharkfin Patterns

We have below AXS/USTD 30min chart below. It shows sharkfin downtrend.

We have below AXS/USTD 30min chart below. It shows sharkfin uptrend.

Question 2
Implement RSI indicator to spot sharkfin patterns. (Clear Charts Needed)

BEARISH SHARKFIN

A bearish shark fin is where the RSI has broken out of the bollinger bond on our TDI so pretend these are the bollinger bands. The RSI pops out of the bollinger band and what this is doing this is showing us that the market is out of its range and overextended. When it's overextended, I call this the rubber band effect. It needs to be snapped back into place and that's how sharkfins work. So, it gets so overextended out of its range that it needs to be snapped back into the range.

I'm going to show you some examples. This is a bearish SharkFin. You're going to notice we have a trend line and we have different things. This is exactly what you need to be looking for. To trade a sharkfin, we have to have confluence in the market we have to have a reason to be in the market besides just the shark fin or hidden divergence. In this case this is what you need to be looking for our RSI has to be at the 70 level for us to take a sharkfin trade. As you can see on the chart below, this top dotted line right there. That's the 70 level and our RSI is perfectly right here.

BULLISH SHARKFIN

It's just the same except the opposite. We have the Shark Fin the RSI breaks below and it's out of its range and has to be snapped back into its range. So, the thing with the bullish Shark Fin is that we have to have our our RSI at the 30 level or lower for us to be able to take that trade. Now remember, we have to have confluences to take the trade. So that's very important and i'm going to show you an example right here

Remember the RSI has to be below the 30 for me to take that trade and a lot of people get stuck on that like. Why does it have to be below the 30 because I've done so much back testing on this strategy and nearly every time that the market goes either to the 70 or the 30 (depending on the trend) that's where we're going to have the best probability that our sharkfin is going to work out.

As you can see on the screenshort, we have a shark fin below 30 on the screenshort. Obviously played out very beautiful. So for me to take accountability for all these confluences with the Shark Fin, the Shark Fin just gives me that idea. It gives me more of a reason that I want to be in that trade.

Question 3
Implement RSI indicator to spot sharkfin patterns. (Clear Charts Needed)

Entry Criteria for Buy Position

• We should consider the quick moving in bearish and also a quick reversed.

• To have an effective buy entry, it's good we let the RSI moves above 30 line because it is a good confirmation that we have a good sharkfin.

• We have the Sharkfin off at the 30 level and that's important.

So let's go over some great shark fin trades. This is a trade that I absolutely took it was such a beautiful trade I mean so easy. We have the Sharkfin off at the 30 level and that's important. These types of things happen all the time in different time frames. There's always going to be moves in the market with this strategy

This is just how sharp and just look through when you're going on trading view just look through the charts and mark up your technical analysis and look how many times a shark fin plays out off of those areas of confluence. It's just confluences with technical analysis with Sharkfin that give us that reason to want to be in the trade.

Entry Criteria for Sell Position

• What you need to be looking for our RSI has to be at the 70 level for us to take a sharkfin trade.

• We should consider the quick-movingng in bullish and also a quick reversed.

• You should wait RSI moves above 70 line because it is a good confirmation that we have a good sharkfin and then wait for it to reverse and form an inverted V shape.

Question 4
Place at least 2 trades based on sharkfin pattern strategy (Need to actually place trades along with Clear Charts)

We have STEEM/USDT chart of sharkfin trade below. We have our buy order, stop loss, and the right moment to take profit set.

We have TLM/USDT chart of sharkfin trade below. We have our buy order, stop loss, and the right moment to take profit set.

Conclusion

I learn about the criteria of sharkfin and how to use it effectively. I discussed about the buy and sell positions. We have to consider the criteria to be able to use this strategy effectively. Sharkfin works a lot without even looking at confluence in the market but when you add that that extra confluence in the market. It makes you want to be in that trade. It makes you realize that the trade going to work out for this reason because we have all these different things that are lining up. It also advisable to combine other technical strategy to be a successful trader.

Thank you professor @cryptokraze for the wonderful lecture.