Five tips for traders to improve their chart-reading skills

Trading is a challenging task, but proper risk management can help ensure consistent profits. However, this is possible only if the trader develops a proper mindset to reading charts. The ability to analyse charts not only boosts a trader's morale but also helps one acknowledge the risk involved.

Here are five tips which can help traders improve chart reading:

Support and resistance levels

Finding support and resistance areas for stocks you want to trade is a must. One might get a good trade, but in uncertain markets, it is the support and resistance that work phenomenally. There are several ways to identify support