A great gold trade

Gold is proving to be a wonderful trading vehicle, says John C Burford. Here, he illustrates a terrific recent trade in the gold market with some beautiful tramlines.

As you know, I have been bearish on gold for some time. I had felt so alone in believing that trading from the short side offered greater profit opportunities. Until the big second top at $1,920 an ounce was made in early September, that is.

The big decline off this top has drawn more traders to my view, and I now have some company.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.