Point Summaries of Elliot Wave
Special Swings Consideration in Low Market Caps
Time Frame Degrees
Berapa Saya Dibayar?
Apa Tugas Saya?
Apakah Saya Mengkhianati Mereka karena Narik Uang?
This is the first time I heard about "Marhaba DeFi", a DeFi ecosystem that aims to be Shariah compliance. There are many religions in this World, for example in the west there are mostly Christians, in Asia there are Buddhism and Hinduism, and in the middle east there are Jews and Islam. Shariah is the legal practice derived from the teachings of Islamic religion based on its holy book "Quran" and the Prophets and its Muslim people way of life "Hadith". Unless you have many Muslim communities in your area, you probably do not know that there are Muslims who refuse to use banking services because some of them believed to be unlawful practice based on the Islamic teachings. In my country Indonesia, more Shariah Banks are emerging which is different from the traditional banks. The difference is that they abide by the Shariah Law which is believed by many Muslims that they are lawful banks. Then it is not strange to find some Muslims reject most DeFi ecosystem just like they reject the traditional banks because they are not Shariah compliance. This may result in DeFi to never receive some Muslim customers. "Marhaba DeFi" envision on bringing a “Muslim also” platform. "Marhaba" in Arabic means “Welcome”, to welcome not only Muslim users but everyone else as well.
General Information in DeFi
For users who are new in DeFi space especially those who are new in the crypto space as whole may not be able to distinguish the uniqueness offered by "Marhaba DeFi". When I read their Lite Paper and White Paper, I found many information that are not exclusive to Shariah practice but general to the whole DeFi space. Cryptocurrency and the rest of its technology are "neutral" as they are only financial technologies (FinTech). It is how they are used what matters to people. Just like how the Internet is neutral, it is what contents inside the Internet that matters. Therefore, I will list them here for you to know so that you can focus in the most important things and avoid embarrassing yourself for being amazed in things that are actually common:
Major Shariah Compliance Believes
DeFi is only a technology which is neutral. Next is how people use this technology. Out of all the lengthy description by Marhaba DeFi ends in one final question. Is their usage of DeFi Shariah compliance? To learn their concept about Shariah is to read their Shariah Concept Paper and to evaluate, we need to reference from the Quran and Hadith. I think it is too much for average people like us to absorb all those information. Instead, I will just pass on the words of many Muslims I met regarding why they refused to use banking.
If there are no Shariah banks in their regions, some Muslims decides not to use banking at all. Why do some Muslims only uses Shariah banks? Because Shariah banks have full intention to be Shariah compliance which is the same as bearing most of the responsibility of its customers. If at some points Shariah banks commit unlawful practice, the customers will almost not be held responsible because they did all they can to make sure the banks they are using are Shariah compliance. The same goes to financial service providers in DeFi, some Muslims are afraid that they will be held accountable for using services that may potentially involves unlawful activities. Therefore, Marhaba DeFi aims to be a financial service provider in DeFi to be Shariah compliance. Just that declaration will bring confidence in many Muslims to use their services.
Upcoming Products Worth Mentioning
All non custodial technologies are just technologies which are neutral. For example, a non custodial wallet does not need to be Shariah compliance because they function just like our personal wallet in our pocket and not being held by a bank or exchange to be used for their businesses. However, the marketplace and their financial activities do need to be Shariah compliance:
The information I wrote above are less facts but more to opinions of Muslim people I heard from. The correct information will always be in the "Quran" and "Hadith". However, my argument is still valid because in business, the truth actually does not matter and what matters is the believes of the people. If Muslims believes them to be unlawful even if they are actually okay after detailed review of the "Quran" and "Hadith", they will stay away from it. Also, not all Muslims are the same, I met many Muslims with different level of strictness, for example there are those who totally avoids alcohol, those who are okay with alcohol to some degree such as being used as medicines, and those who are okay drinking alcohol as long they do not get drunk. Finally, this article is originally Published on https://www.publish0x.com/0fajarpurnama0/do-you-know-that-some-muslims-view-banks-and-defi-as-unlawfu-xwwmvyv?a=4oeEw0Yb0B&tid=publish0xcontest to enter the #MRHBDeFiExplained Writing Contest.
How Much Was My Payment?
What Was My Job?
Did I Betray Them for Cashing Out?
The Most Popular Harmonic Patterns
Measuring Harmonic Patterns
Gartley Harmonic Pattern
Bat Harmonic Pattern
Butterfly Harmonic Pattern
Crab Harmonic Pattern
Some Other Harmonic Patterns
New Cypher Harmonic Pattern
The Fibonacci Numbers
The Fibonacci Golden Ratios
Popular Fibonacci Trading Tools
There are two mostly used Fibonacci trading tools, even many professional traders only needs to use these and I myself never used other tools before writing this chapter. They are Fibonacci Retracement and Fibonacci Extension or Expansion. Other Fibonacci tools are optional.
Fibonacci Extension or Expansion
Other Fibonacci Trading Tools
I will be honest again that before writing this chapter, I never used the following tools. Fibonacci Retracement and Extension are enough, plus those are the only available Fibonacci tools in Metatrader. The following tools are found in trading view and less likely to be found on other platforms.
Fibonacci Time Zone
Fibonacci Speed Resistance Fan
Fibonacci Trend Based Time Zone
Fibonacci Speed Resistance Arc
Time To Correct Basic Swings
Reversal classic chart pattern are pattern that reverses the trend where if currently the trend is bullish then the trend will reverse to bearish and vice versa. In many articles, these patterns are not the first on the list but I decided to list them here first because new traders when starting their technical analysis education usually forgets about these patterns. The cause is the default instinct of starting learners where they always draw trend lines whenever trying to spot a chart pattern. The fact is that most these popular reversal patterns are not identified by trend lines but by support and resistance lines. Therefore, engrave these patterns into your head first.
Double and Triple Bottoms
Double and Triple Tops
Head and Shoulders
Reverse Head and Shoulders
Continuous classic chart patterns are patterns that continues the trend. After a corrective phase ended, the trend continues and popular classic chart patterns are usually found in these corrective phase. To find these types of patterns, draw a lower and an upper trend line on the corrective phase except for cup and handle pattern which should be identified using support and resistance line.
Ascending Broadening Wedge
Descending Broadening Wedge
Cup and Handle
Reverse Cup and Handle
Either classic chart patterns can either continue the trend or reverses. Classic chart pattern traders waits until the price breaks the pattern. After that, traders set a position following the price direction with a stop loss at the other side of the chart pattern's breaking line.
Unlike wedges, lower and upper trend lines goes in different direction but converges but unlike pennant, it forms a wave. Triangles are longer than pennant. Triangle is the most popular classic chart pattern on social media today.
Can Chart Pattern Fail?