This is a tutorial on how to program a simple, EMA indicator in pinescript.
I use pinescript heavily in my day to day trading and, as I am not a coder, I struggled at the start to try and find resources on how to program using it.
So I thought I would provide a brief video tutorial on very basic, fundamental aspects of pinescript by having you create your very...
Have you ever wondered why price action sometimes forms a bull flag pattern?
Have you ever wondered if there is a way to predict whether a bull flag will break out before it actually does so?
In this post, I will try to address these questions by presenting a couple of theories about the nature of bull flags.
Bull Flag Theories
(1) The flag structure of a...
It appears that we have a lot of uncertainty ahead and now is a good time to plan ahead to be sure you aren't left holding the bag.
Short Term: Up
Longer Term: Down
If you combine all the buying and selling across all the major indices you start to see the following:
1.) Sell off volume to the downside is higher than buying volume.
2.) Noya indicator showing...
I continue to be fascinated by the fact that small caps once retraced their entire post-Covid move. What I mean is, the Russell 2000, which is 2,000 companies that are identified as small cap stocks, had such a terrible year in 2022 that they went BELOW were they were before Covid was ever a thing.
But why is this interesting?
Because roughly $5 trillion was...
Golden Cross vs. Death Cross: An Overview
Technical analysis involves the use of statistical analysis to make trading decisions. Technical analysts use a ton of data, often in the form of charts, to analyze stocks and markets. At times, the trend lines on these charts curve and cross in ways that form shapes, often given funny names like "cup with handle," "head...
Hagopian's Law: When price reverses before reaching the Median Line or MLH (parallel), or extension; you can expect that the reversal will be larger than the preceding move towards the Median Line.
AKA price will exit the fork.
Short IWM , target the trigger line.
... for a 26.09 debit.
Comments: Short delta hedge against a long delta portfolio. 26.09 cost basis on a 34 wide with a 167.91 break even, a 7.91 ($791) max, and a 3.96 ($396) 50% max. The preference would be to put these hedges on in strength, so probably not the best setup as a standalone trade.
* -- Long Put Diagonal.
... for a 1.62 credit.
Comments: My most at risk short put strike in the small caps ETF ... . Rolling it down and out to the quarterly. Collected 1.75 (See Post Below) plus the 1.62 here for a total of 3.37.
... for a 183.77 debit.
Comments: Since I still have broad market short delta hedges on in IWM, QQQ, and SPY, replacing a lot of the long delta I took off yesterday in one fell swoop here with covered calls. Here, I'm selling the short call paying around 1% of the strike price in credit. The 193 is paying 2.10 ($210) at the moment, and I'll look to roll it at...
Taking a break as planned from SPY but thought I would share my thoughts on IWM. But in full disclosure some referencing of SPY will happen.
Additionally, I have ran the probabilities on all of my stocks except BA, and they are all pretty underwhelming. So let's get into it:
Probability is mixed. As you can see from the chart, we have 1:3 for the bull...
Got a nice hammer candle that tested 50 day MA before bouncing back up to the upside after opening bell sell off. Holding 21 day EMA as support with 50 day as secondary. Hourly chart also holding MAs as support trendlines. LONG IDEA
Here is another view of the small caps index. I posted previously a big drop (see my related ideas lines below) however there is this uptrend that need to be broken to finally say that we are in a bear market. At this moment the market is still deciding where to go. I personally prefer to buy stocks with great potential to the upside instead of shorting. I made...
Comments: Laddering out here on weakness ... .
January 20th 169: 1.75 credit.
February 17th 160: 1.68 credit.
March 17th 155: 1.89 credit.
The weakness isn't "ideal" here, but I am relatively flat, so need to get theta out there and grinding. Will look to add at intervals over time.