A great trade in the EUR/GBP

The charts had called time on the euro bull-run long before the newspapers got wind of it, says John C Burford. And the charts can tell you when it's time to take profits too.

I follow the EUR/GBP market closely and until recently, the euro was gaining on the pound. The EUR/GBP recently gave me a great trade, where I used my tramline and Fibonacci methods to pinpoint the entry and exit points with high accuracy.

There is a convincing story behind this upmove from last summer. While eyes were averted from the eurozone crisis this was pre-Cyprus - they came to see that the economic news out of the UK was deteriorating. So that was the major theme.

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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.