My reliable Dow setup led to a perfect trade

John C Burford reveals how the Dow Jones gifted swing traders a highly reliable trading opportunity.

Last Monday, I covered a very interesting set-up in the Dow. In fact, the hourly chart displayed one of my all-time favourite patterns the 'five/three'.

I mentioned in my coverage of GBP/USD on Friday that the chart there also was displaying a five/three, and that there were several more current examples in different markets. So today, I want to show that the Dow set-up last week was a highly reliable trading opportunity.

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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.