Read Charts Like Pro Trader.Trade success is not about fate – it’s about understanding price movements. Whether you trade shares, foreign currency, crypto or binary options, coping map analysis separates the winners from the loser.
In this 2500-word guide you learn:
✅ 3 types of diagram each merchant should know
✅ candlestick patterns that predict reversing of the market
✅ Key support/resistance strategies used by hedge funds
✅ How to combine indicators of high vulnerable trades
Real map examples from current markets.Read Charts Like Pro Trader.
- Why is it No. 1 skill to read traders
Professional traders spend 80% time analyzing the chart – not to see the news or listen to the tips. Here’s the reason:
- Price action reflects all market information (news, feelings, basic things)
- The pattern is repeated due to human psychology (greed and fear cycle)
- Institutional traders leave clues in quantity and price movements
Example: 2023 Bull Run of Bitcoin was visible on charts before informing Mainstream Media.
2 .. 3 types of charts you must master
A. Line map (simplest form)
Shows just closed prices over time
Best to identify trends with a long time
Weakness: The price hides the volatility
B. Bar Chart (more detailed)
- “Bar” shows the value limit:
- Displays open, high, low, closed (Ohlc) for each period
- Top = highest value
- Lower = lowest price
- Left dash = opening value
- Right dash = closure value
C. candlestick chart (most powerful)
- Green candles = closes more than the opening value
- The same data in the form of bar charts but visually clearly
- Red light = price is less closed than opening
- Wicks shows price rejection (key for reversing)
Pro Tip: 90% of professional traders use candlestick diagrams.
- 5 should know candlesticks -patterns (with real examples)
Pattern 1: Hammer and hanging man
It seems: a candle with a long low week
Hammer (fast)
- Pattern 5: Bar (Breakout -Signal) Inside
Perfectly small candles inside the border of the previous candle - Break Up = Buy Signal
- Brakes down = Selling signal
Map Examples:
[Set anotat Bitcoin/USD diagram showing these patterns]
- Support and resistance: Institutional business
What is support?
Price level where the purchase pressure increases
Are seen as a “floor” where bouncing is
- What is resistance?
Price level where sales increase - Actions as a “roof” to prevent rallies
- How to draw them right
Clear Swing High/Climb (not all small bounces) - Use horizontal lines (not diagonal trendline)
Pro Tip: Big banks order on these levels – with them, not against them.Read Charts Like Pro Trader.
- Coordination
Best indicator combination (used by fund managers)
Average average (trend filter)
- 50 EMA = short -term trend
- 200 EMA = long -term trend
- RSI (Overbott/Oversold Zone)
- Over 70 = overbot (sales option)
- 30 = oversold (purchase option) below
- Macd
- Line Crossover = Input signal
- Common map errors losing money
❌ Action against trend (trying to catch precise tops/bottom)
❌ ignoring high deadline (daily chart> 5-minute chart)
❌ Overload map with indicator (3-4 is optimal)
❌ To forget volume analysis (requires the volume of outbreaks to be confirmed) - How to Practice As a Supporter (Free Resource)
Tradingview.com (free chart platform)
[Insert the S & P500 chart with these indicators that signal trades]
BabyPips School (Free Forex Chart Course)
Backtest strategies using historical data
Final decision: Can you really take advantage of the chart?
✅ Yes – if you:
- Master Candlestick Pattern
- Business with support/resistance
- Mix a maximum of 2-3 indicators
