The QFL (Quickfingersluc) strategy is a popular crypto trading method developed by the well-known crypto YouTuber, Quickfingers luc.
Also referred to as the Cryptocurrency Base Strategy, the QFL crypto strategy uses a quantitative approach to identify trading bases in the market and make trades based on that information. The strategy is designed to generate returns by exploiting upward and downward momentum in the crypto market through long and short positions.
The QFL strategy has gained a reputation for its ability to identify profitable trades and simplicity, making it a favorite among many crypto traders.
This article will look closely at the QFL strategy, its origins, and how it can generate returns in the crypto market.
What is QFL Meaning?
The QFL Trading Strategy, or crypto trading using Base Strategy, is based on identifying trading bases. This could help determine the purchase and sale action of the trader. Therefore, it is crucial to understand the key terms associated with the price movement of the candlestick graph when following the basic strategy.
How Does QFL Strategy Work?
To implement the QFL strategy, traders should follow a step-by-step approach that includes finding cryptocurrency markets with whippy charts, finding strong bases with higher rebounds, examining the frequency of panic sales, setting alerts based on their preferred base level, and using a reliable crypto market scanning tool.
- First, it lets you make sense of the red and green lines on the candlestick graphs.
- Second, it gives you a cue for buying or selling your digital assets at the right time.
- Third, it lets you efficiently play your move according to your risk level and targeted profit.
QFL Candlestick Key Terms
Base Level
This is also called the Support Level, the lowest price level reached before the price starts turning and increasing again. At the base level, you will notice that buyers of some coins in the crypto market have a strong reaction.
Rebound Level
This is observed when the coin price sharply moves upward after touching the base or support level. Then, a rebound happens because of a strong buyer reaction, which drives the price back up.
Resistance Level
This is the highest coin price level just before the increase stops, and the price drops again. At the resistance level, you will notice that panic sales usually happen, which then drags the coin price down.
Crack
This event happens when there is a strong ticker pulse movement at a distance from the base level down to the subsequent rebound formation.
If you want to earn Bitcoin or grow your digital assets, signing up for the best crypto trading platform is not enough. You also need to know the basics of your chosen strategy. Now that you know the key terms of QFL trading, it is time to discuss the necessary actions that are part of the basic strategy.
QFL Strategy: Step-by-Step Trading Actions
- Find cryptocurrency markets with whippy charts
- Find strong bases with higher rebounds
- Examine the frequency of panic sales and buy when traders are selling in panic
- Set alerts based on your preferred base level
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. However, unlike stable markets, whippy markets offer traders many opportunities to have profitable entry points.
Find strong bases with higher rebounds.
Higher rebounds only mean 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.
You can use the qfl indicator to identify potential trading bases before making any buying or selling decisions.
Examine the frequency of panic sales and buy when traders sell in panic.
Examining how frequent panic sales occur in a particular cryptocurrency market is essential. One of the aspects of QFL trading is buying during panic sales. Determine the probability of new cracks in the future by checking how panic sales work at the previous base levels at a rebound and 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 the panic and the base level.
You can calculate the distance between the previous base levels to know your entry point based on the crack's length.
Set alerts based on your preferred base level and use a reliable crypto market scanning tool.
To monitor the movement of cryptocurrency prices, it is necessary to use accurate and reliable crypto market scanning software.
What is the best trading tool for the QFL strategy?
Altrady, a cryptocurrency trading platform, offers a Crypto Base Scanner tool to help traders implement the QFL strategy quickly and conveniently. In addition, traders can get a free 14-day subscription to Altrady and use its tools and features to enhance their trading experience.
Crypto Base Scanner has a base alert feature that can notify you when a coin price drops to your targeted percentage level.
Alerts from Crypto Base Scanner will help you comprehensively analyze the cryptocurrency chart. Upon receiving the qfl signal, look at the market graph and try to spot panic sales for a profitable entry point.
Conclusion QFL
In conclusion, the QFL trading strategy is a popular and effective method for generating returns in the crypto market. By understanding the key terms and following a step-by-step approach, traders can use this strategy to identify profitable trades and achieve their trading goals.
