When I look at charts analyzed by others on YouTube or elsewhere, I think, Ah, that's how it's done. However, when I actually try to open a chart myself, I often find myself not knowing where to start or what to do. Today, I will discuss the fundamental basics of how to read charts in a way that even complete beginners can understand, which has allowed me to generate updated profits every year. 

Hello, I started trading Bitcoin in 2017 and have been trading ever since. I have also been active as the top instructor in the personal finance sector on an educational platform for over a year. During that year, I taught around 400 to 500 students, and what I realized is that when people watch chart analyses on YouTube or from others, they think, Ah, that's how it's done. But when they actually try to use the charts, they find themselves unsure of where to start or what to do. Since this is difficult, it’s only natural that they struggle with how to trade.

Today, I will talk about the very basics of how to read charts that have allowed me to generate profits every year, in a way that even beginners can understand. You don't need to know about Elliott waves or chart patterns. We are not aiming to make hundreds of millions in profit; to reach that level, one would need to analyze charts meticulously. However, if our goal is to make around 100 million won in profit each year, we can definitely achieve that without needing to be experts in chart analysis. We only need to know two things. After all, we are not trying to become chart analysts; our purpose is to earn money by looking at the charts. So, if you watch until the end with an open mind, it will surely be helpful. For a broader understanding of chart reading, it would be good to refer to previous videos. Now, let's take a look at the charts and the current atmosphere.

You need to have a general understanding of the flow. If you understand this much, you've completed half of the task. What did I say earlier? We are not becoming analysts; our goal is to make money by looking at charts. So, how do we make money? We need to predict how the candles will move in the future and take action accordingly. If the actions we take align with our predictions, we make a profit. If things do not go in the direction I predicted, we incur a loss. That is why we analyze where to enter in order to maximize profits while minimizing losses in case our predictions are wrong. Now, let me talk about the two concepts I mentioned earlier: support and resistance, and trends. This is something everyone knows, right? It’s simple. Those who make money in the trading game don't have some incredible secret that only they know.

No, it's just that the basics are solid. If you think about it in terms of soccer, it's like passing and shooting. We may not have the flashy individual skills of players like Messi or Neymar, but if we can just pass and shoot well, we can easily dominate amateur soccer. Now, let me talk while looking at the chart. Just looking at the chart, it may seem like I'm making vague predictions about how things will move from here. However, those vague predictions, meaning whether we will buy or sell here, and if we buy, where we will buy from, and if we sell, where we will sell and how far we will take it, need to be organized in very detailed parts by looking at the chart. The predictions I have are always based on evidence. If there is no reason or evidence for why we made a purchase, then we cannot possibly have longevity in this trading game.

Therefore, we analyze this chart to find the basis. However, we don't need to analyze the chart too rigidly. If we think of the basic framework for chart analysis as a construction project, it would be similar to the fundamental rebar and concrete work. What I mentioned were just two things: finding support and resistance levels and drawing trend lines. I will explain how to do these two things.

What you are looking at now is a Bitcoin setup chart on TradingView, and it is a daily chart. To find the support and resistance lines here, we use the first tool on the left. Click on the horizontal trend line, which is a horizontal line, and draw it like this. This will serve as either a support or resistance line. First, let me explain by drawing two lines; I have drawn one here and another one here.

The part we need to focus on now is the future. So, I've drawn the support and resistance lines that we might be able to use in this future. I'll explain the reason behind the lines I've drawn. In the daily chart, the first line at the bottom shows that in August 2022, this line was acting as resistance, and we can confirm that the price dropped after hitting this line. Then, in February 2023, the price touched this level again but eventually dropped down. Even more recently, we can see that the price hit this resistance line and then strongly rallied upwards. Therefore, this position, which used to be a resistance line in the past, has now broken through strongly and is currently acting as a strong support line. I believe everyone can understand this part. So, if the stock price comes down...

Even so, in this area, the probability of it being blocked again and going back up is high. Therefore, I have drawn a support line here. Regarding the second line I drew, in the past, once this range was hit, it bounced back up, and we can see that it bounced back up quite a bit in this range as well. Recently, after breaking through the first support and resistance line, it ultimately could not break through this area and came back down. Therefore, in the current situation, if the stock price touches this range again, there is a chance it will drop back down from this area, or if it breaks through, it will break through very strongly. This is how we can make predictions. I have drawn just two support lines, and we have tried to predict how the stock price will move in the future. Now, I should also work on the second trend line I mentioned. So, let's work on the trend line drawing at a slightly lower time frame.

Let's try it out in the frame. Until now, we have been looking at the daily chart, but now let's break it down into a four-hour chart. After breaking it down, we can see that there is a box drawn here. We can confirm that the stock price is still moving within this box range. The trendline is the first trendline we are going to draw here. The trendline is simply a diagonal line connecting points or connecting lows. I will draw one here. This is something we have seen a lot, and you may have heard of it at least once. We can confirm that the stock price is currently in a triangular convergence. It has deviated a bit in this area, but I usually disregard such deviations and just make my judgment.

편입니다. 이 정도까지 완벽하게 차트가 항상 맞아 떨어지진 않거든요. 그렇기 때문에 이 정도 그냥 감안을 하고 선을 한번 그어 봤습니다. 그러고 나니까 지금 삼각 수렴을 하고 있다, 이 정도까지를 판단할 수 있었습니다. 제가 지금까지 그 은선 몇 개죠? 지지정선이 하나, 둘, 그리고 추세선이 하나, 둘. 이렇게 작도를 했더니 그럴듯하게 차트가 작도가 된 거를 확인할 수 있습니다. 우리 차트 작도는 왜 하는 거라고 했죠? 차트 분석은 결국 돈을 벌기 위해서 하는 겁니다. 자, 그러면 이제 이 정도까지 했으면 앞으로 주가가 어떻게 움직일지를 예상을 한번 해봐야 되는데요. 이 상황에서 저는 어떤 식으로 판단을 하는지 먼저 말씀을 한번 드려 볼게요. 거래량이 줄면서 삼각수렴이 이렇게 되고 나면 어느 한 방향으로든 발사, 그러니까 거래량이 터지면서 주가가 위로 튀든 아래로 튀든, 그렇게 될 것이라고 예상을 할 수 있습니다.

Many of you might already be familiar with this part, but for those who aren't, it's enough to understand that after the breakout, there will be a divergence. Given how things have progressed, we can expect a significant movement either upward or downward soon. However, I haven't been able to pinpoint the direction yet. Regardless, we can verify this in some way. If I were to enter a long position at this level, we can establish our entry and take-profit lines to some extent. If I enter here, where should I set my stop-loss? If it breaks out of this triangular convergence, it will likely move significantly in one direction. Therefore, if I take a long position from this point, I would definitely set my stop-loss if the price moves beyond a certain level. For me, if the price moves beyond around 27,800, I would automatically trigger a stop-loss.

It's only about $100 for around 27,700. However, if I predict that the stock price will rise from here, what will happen? If I get it right, I believe I can set a target price of at least up to 28,900. In that case, what will the risk-reward ratio be? The risk-reward ratio will improve significantly. Just by looking at it now, it shows a ratio of 6.26, which means it could be around 6:1. Of course, I'm not going to take a long position right away from this point; I'm just giving an example. I will look for more reasons to go long or short. But in any case, we can create a trading strategy based on just these four elements: support lines, resistance lines, and trend lines. Conversely, if I decide to short from this position, how would I enter? Naturally, as I mentioned earlier, I would look at the trend line.

If we break through, we can expect a significant rise. Therefore, I will set the stop-loss line at around 28,090 to 28,100. Now, where should we set the take-profit line? We can aim for this level, which allows for a very favorable risk-reward ratio in our trading strategy. Even if you don't fully understand my trading strategy, that's okay. What we're focusing on now is how to analyze the chart from a trading perspective. So, if you look at what I mentioned earlier, you will see that with just the trend line and the two horizontal lines, you can analyze the chart to a reasonable extent. This is the key point to understand. I actually use this method quite often, especially when a triangular pattern emerges; I always apply this approach.

When using methods, of course, it doesn't align perfectly with upward or downward directions. However, we can identify positions with a good risk-reward ratio. The aspect of aligning with the direction will be further supported by other indicators later on, but with just this level of understanding, we can certainly find positions that allow us to manage risk by aiming for long-term gains and minimizing losses. It shouldn't be too difficult for you. What I shared today are just two concepts: trends and horizontal lines. If you've grasped these concepts, it's time for you to try it out yourself. After practicing this a few times, you'll likely develop a good sense for it. So, start by identifying support and resistance lines, and then narrow down your focus on trends and trend lines. Just practicing these aspects will be beneficial.

Chart analysis is not difficult at all. This is something I have been using for a year or two, and I just applied it again recently. It is the most fundamental way to establish the basic structure of a chart. Once you internalize this to a certain extent, you will be able to see it without having to draw it out like this. I encourage all of you to practice so that you can also internalize it. So far, we have covered the most basic aspects of chart analysis. In the next video or the one after that, I will delve deeper into how to analyze charts and how to find good entry points for trading. I will also discuss how those who are much better than I am analyze charts and what trading methods they use. So, today’s content is...

That's it for today. If you found the video helpful, I would appreciate it if you could subscribe and give it a like. Thank you!

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