How to Trade Using the QFL Crypto Trading Strategy
Who doesn’t want to learn some of the best crypto trading strategies that can give them profits in this sometimes crazy and often unpredictable crypto market? We know how hard it is to learn crypto trading strategies, we’ve been in your shoes. Doing crypto trading for several years, we know that there are crypto trading methods and strategies that can help grow your initial crypto investments.
An easy crypto trading strategy that we will discuss here was developed by a crypto YouTuber named Quickfingersluc (thus the name for the method), which is Quickfingersluc or QFL Strategy and sometimes also called as the Base Strategy. This approach to cryptocurrency trading can lead to profitable results, even when the market seems to be insanely out of hand.
So how does QFL give you crypto trading help? First, it allows you to make sense of the red and green lines on the candlestick graphs. Second, it gives you a cue at the right time for buying or selling your digital assets. Third, it lets you efficiently play your move according to your risk level and targeted profit.
The QFL Trading Strategy or the Base Strategy works by identifying trading bases, which could then help determine the trader’s buying and selling action. When following the base strategy, it is crucial to understand key terms associated with the price movement on the candlestick graph.
- Base Level — This is also called the Support Level, which is the lowest price level that had reached before the price started turning and increasing again. At the base level, you will notice that buyers of some coins in the crypto market make a strong reaction.
- Rebound Level — This is observed when the coin price sharply moves upward right after touching the base or support level. Rebound happens because of a strong buyer reaction, which drives the price back up again.
- Resistance Level — This is the highest coin price level just before the increase stops, and the price starts going down again. At the resistance level, you will notice that panic sales usually happen, which then drags the coin price down.
- Crack — This event occurs when there is a strong pulse movement of the ticker at a distance from the base level down to the formation of the next rebound.
If you want to earn Bitcoin or grow your digital assets, it is not enough that you enroll in the best crypto trading platform. You also have to know the foundations of your chosen strategy. Now that you are aware of the essential terms in QFL trading, it is time to discuss the necessary actions involved in the base strategy.
- Find cryptocurrency markets with whippy charts.
Finding whippy markets is one of the primary keys to earning cryptocurrency from exchange platforms. But what do we mean by whippy markets? These are cryptocurrency markets with charts that resemble a whip. In essence, it’s characterized by unstable coin prices that frequently go up and down. Unlike stable markets, whippy markets offer traders with a lot of opportunities to have profitable entry points.
2. Once you have chosen a whippy market, it is now the time to find strong bases with higher rebounds.
Higher rebounds only mean that there is a strong buyer reaction in the market, which can make for a profitable QFL trading action. High rebounds are characterized by significant increases in price from the base or support level.
3. Examine the frequency of panic sales and buy when traders are selling in panic.
It is essential to examine how frequent panic sales occur in a particular cryptocurrency market. One of the aspects of QFL trading is buying during panic sales. Determine the probability of having new cracks in the future by checking how panic sales work at the previous base levels at a rebound and by calculating the average size of such panic sales.
To have an idea about how future panic sales would drop the coin price further, you can make an average calculation of the distance between the price during the start of panic and the base level.
To know your entry point based on the crack’s length, you can calculate the distance between the previous base levels.
4. Set alerts based on your preferred base level and use a reliable crypto market scanning tool.
To be able to monitor the movement of cryptocurrency prices, it is necessary to use an accurate and reliable crypto market scanning software. Crypto Base Scanner by the Altrady cryptocurrency trading platform can help you immediately spot important coin price movements. It has a base alert feature that can notify you of real-time when a coin price drops to your targeted percentage level.
Alerts from Crypto Base Scanner will help you make a compelling analysis of the cryptocurrency chart. Look at the market graph upon receiving the signal and try to spot panic sales for a profitable entry point.
Get a free 30-day subscription from altrady.com now and take advantage of its tools and features that can help you trade using the QFL trading strategy with much ease and convenience.