Overbought in a Downtrend Means Bearish Patterns Are More Likely to Work

2024-04-30 / Chris Brecher

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The perfect storm happened today. Bonds testing lows, while indexes had overbought MACD’s with prices at resistance.

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Chris Brecher

After 8 successful years on the Chicago Board Options Exchange floor, Chris Brecher realized that electronic trading was making more money than floor trading. He left the floor to work for a NYC day trading firm. While Chris was both opening offices and training the traders, he still managed to be in the top 5 out of 800 traders for all 9 years he was with the firm. When the firm was taken over in 2003, he decided to trade from home. Since 2003, Chris has traded on his own, opened his own trading educational site, and worked as a content provider for Simpler Trading.

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