The euro’s hitting powerful resistance, but a big rally could be on the cards

We could be at the start of a major rally in the euro, says spread betting expert John C Burford. Here, he explains why.

I am convinced that if you wish to be a successful trader, you must have a reliable system or method that you apply consistently in all market situations, as well as a solid money management discipline. Trading on hunches, or what the media or your favourite guru says (without supporting data), or buying what your brother-in-law is buying is not a reliable system.

I like to keep things as simple as possible and that is why I devised the tramline trading method. One of the three pillars of my method is the tramline system itself, which I devised. The other two are the Fibonacci levels and the Elliott wave model. Sometimes, the markets are perfectly aligned to allow full use of the tramline method, as I will show in the EUR/USD charts.

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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.