Another great tramline test for the euro

John C Burford looks at another trade in the euro which demonstrates the power the tramline trading system gives traders.

Today is Labor Day in the USA and markets there are closed, except for the Globex markets. Normally on US public holidays, trading is very muted, but we shall see.

On Friday, I showed my tramlinetrio that I believed was operating on the hourly chart. At that time, the market was testing my centre tramline. And with Friday's explosive action later in the day, it rallied to test my upper tramline.

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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.