Gold follows my roadmap down (for now)

Elliott wave theory has provided John C Burford with some solid clues to gold's future price direction.

One of the terrific advantages of getting to grips with basic Elliott wave theory is that with that understanding, you can place labels on the waves that give solid clues as to future price direction.

I do understand that many traders wrestle with this theory and its study can verge on the downright nit-picking of every tick. But my advice is to stick with the basics, as I show in these articles. The key message is that motive waves (in the main trend) have five waves in the main direction and then a correction in three waves in the opposite direction.

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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.