Hunting for trades in the Dow

By looking at the action around tramlines, Fibonacci levels and Elliot waves, John C Burford finds a great entry point for a short trade on the Dow.

I hope you have watched my video tutorial on the introduction to tramline trading. If you missed it, watch it here.

When I left the Dow on 22 August, I was looking for an A-B-C rally pattern to correct the massive 2,300 point plunge that had just occurred, where the low was 10,450 on 9 August.

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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.