Logical guide for new comers but read it 4 to 5 times and don't say that you have to draw it yourself, make a video - you need to work on it -

How can I draw UNFI chart and analyze it on TradingView. This guide is written in such a way that even if you have no experience of trading and charting, you can still follow it and do your analysis.

Step-by-Step Guide for Drawing UNFI Chart on TradingView

1. Open Chart on TradingView and Select Tools

• First of all download TradingView App (or go to the website) and login to your account.

• Type “UNFI/USDT” in the search bar and select the UNFI chart.

• After the chart opens, select the 1D Timeframe. That is, on the daily timeframe, each candle will show one day’s data.

2. Drawing Trend Lines (Step-by-Step)

• Select the Trend Line Tool in the Left sidebar.

• Now place the first point at the point from where the price started going up – that is, the lowest point of the price.

• Place the second point at the point where the price made a high or came down.

This trend line will help you to identify the direction of the price and important support/resistance levels.

3. Drawing Support and Resistance Lines

• Now draw a horizontal line where the price has previously faced resistance. This is called the “Previous Upside Target”.

• Now draw another line where you expect the price to stop again if a breakout occurs – this could be your “Next Upside Target”.

4. Using Volume Indicator

• Add the volume indicator to the chart (usually displayed at the bottom).

• Look at the volume bars:

• If the green volume is high and the price is moving up, it is a sign of buying pressure (bullish signal).

• If the Red Volume is high and the price is going down, then it is a signal of selling pressure (bearish signal).

Volume tells us which way the strength is in the market and which way people are trading.

5. Defining Entry and Stop-Loss Points

• Entry can be considered at the point when the price retraces and comes back to the support level or trendline and hold.

• Stop-Loss should be kept below the trend line so that if the price moves in the opposite direction, the loss is limited. For example, if the entry is at 1.350, then the stop-loss can be kept at 1.300.

6. Checklist for Taking Trade

• Volume Check: If there is high volume then the trade seems secure.

• Trendline Support: If the trendline is intact and is holding then the entry may seem more secure.

• Market Sentiment: Also look at the position of DeFi and overall crypto market. If the market is bullish then long entry can be beneficial.

Why will this analysis work?

In this setup we are looking at the trendline and volume which are strong indicators of any trade setup. Price holding at support and increase in volume is a strong sign of trend continuation.

If this setup fails, there can be some reasons:

1. Market Reversal: If the overall bearish trend comes in the DeFi market, then this trade can fail.

2. Low Volume: If the volume is low, the trend line can break and the price can come down.

3. Fundamental News: Any big news or announcement that affects the crypto market.

Fundamental Analysis of UNFI

UNFI is a DeFi (Decentralized Finance) protocol that offers financial services on the blockchain in a secure and decentralized way.

What is DeFi?

DeFi means that without any middleman, i.e. bank, you can take loans, transfer money and also invest. All this happens on the blockchain, so it is secure.

Use Case of UNFI

The main purpose of UNFI is to offer secure and fast finance solutions to people. It supports liquidity pools and decentralized exchanges which help people to grow and manage money directly.

What Fundamental Indicators to Look at?

• Market Cap: It tells how much is the value of the total UNFI market.

• TVL (Total Value Locked): This is a measure of how much money is locked in DeFi.

  • Circulating Supply: How many coins are currently available in the market.

  • Price Trend: Look at the price trend of the last few months to understand whether there is a growth trend or not.

Do not post comments until you try to draw this 4 to 5 times or the signal has not been created