Trading turning points using weekly charts

A weekly chart can instantly give us a wide perspective on where the market is currently positioned. But it only rarely gives you insights into good trading positions. For that, we need shorter time-frames to work on.

If you have been around price charts for a while, you will know that the weekly chart can instantly give you a wide perspective on where the market is currently positioned.

However, it only rarely gives you insights into good trading positions (although this example is an exception). For that, we need shorter time-frames to work on. But the weekly can throw up major support and resistance levels (at least price bands can be revealed), as well as any current major trends.

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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.