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How I read a Chart as a professional crypto trader and plan my future trades.

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Pro Swing Trader
May 12, 2024

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Hi friends ,

today I will discuss how I analysis charts as a pro crypto trader and how I plan my future trades.

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I will use RUNE/USDT chart for this explanation.

this is RUNE/USDT chart , what is the most important trend line you see.

so what was your trend line.

this is the most important trend line on this chart.

so How you should read this.

this trend line act as a support five times ( green arrows)

when a trend line hit multiple times it get weaker and weaker , so next time that trend line can be broken.

so as we expected it was broken on the sixth time. ( yellow arrow)

when a support line broken it act as a resistance.

and if it was hit multiple time before the break point it act as a strong resistance area.

so this strong resistance line need to be hit several times if it has to be broken

so when that trend line was hit for the first time , I decided to go short when if it hit for the second time within few weeks.

so we expect a pull back when this trend line hit for the second time.

so as we expected price rejected for the second time when it hit this trend line.

so now you can understand how we plan our trades using technical analysis few days before chart reaching a key level.

this is the life of a pro crypto trader.

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PayPal, Disney, and Nike recently dropped 50-80%. Are they undervalued? Can they recover? Read Value Investor Daily to find out. We read hundreds of value stock ideas daily and send you the best.