The trouble with gold

John C Burford explains what gold's erratic movements in the charts can tell traders about where the market is heading next.

I follow the gold story today because it is a perfect example of how to use my tramline concept. It gives you a roadmap of likely support, resistance and target zones all invaluable information.

In my Fridaypost, I had a long trade working. It was based on a lower tramline touch (see the below chart).

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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.