Technical Analysis for Options Trading The Wheel | Beginner Options Strategy | RSI MACD SMA

Last Weeks Episode: https://youtu.be/v5-oTHBTtf8

The Wheel: https://youtu.be/_uKo-bO35-Y

Covered Call: https://youtu.be/SrBTqAVtqjo

Cash Covered Put: https://youtu.be/yDpMKDZdJe4

#TechnicalAnalysis #Options #Trading #thewheel #robinhood #investing

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What’s going on team? Today we are back with another Options Trading Strategy video where I document my thoughts and trades utilizing the wheel strategy. If you want to learn more about the wheel strategy I have made a series of tutorial videos where I dig deep into each part of the strategy. I will link them down below so you can check them out!

Today I want to talk about Technical Analysis and how I use it when I’m trading options using the Wheel Strategy. Then after I talk about the indicators I use, I will demonstrate them in action with an actual trade.

Also this is a good time to mention that if you enjoy these videos please consider subscribing to my channel! I really enjoy making these videos and it would mean alot to me. It also helps me out a ton to know that people are finding these videos helpful and enjoyable to watch. 

Alright let’s get into the video!

Let’s start off with what technical analysis is. According to Investopedia, “Technical analysis is a way to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume” 

https://www.investopedia.com/terms/t/technicalanalysis.asp

So what does this mean? Well in simple terms it means you take in what is happening right now... or what has happened in the past to make an educated guess at what will happen to the stock’s price next. This isn’t the same as fundamental analysis where we look at the company's financial situation, business plan, its CEO, or 

Let's not confuse this with a cause and effect situation. Technical analysis does not tell you what WILL happen in the future. It’s true that history tends to repeat itself, that is why we use technical analysis, but that does not mean it has to repeat itself. You can not control the news of a company nor can you expect to predict the price action every time.

I just want to say this again. Just because history tends to repeat itself, that doesn’t mean it has to. Got it? Good!

Alright so now that we have a basic understanding of the idea behind technical analysis let's dive into what technical indicators I use on a daily basis to help me determine my options trades.

With that being said... on to the indicators!

My top 4 indicators I use are:

- Support & Resistance Lines

- RSI (Relative Strength Index)

- MACD (Moving Average Convergence Divergence)

- Simple Moving Averages

Thanks for watching!

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