Textbook trades in the Hong Kong stock index

The Hong Kong stock index has thrown up some textbook examples in how to use chart-trading methods. John C Burford explains.

This week, I am literally spoiled for choice in my selection of a market to cover where I can illustrate how to use my tramline methods to extract swing trading profits. After all, that is always my intention with these Trader posts.

If you can pick up just one useful idea on how to draw tramlines, or how to use Fibonacci, or how to apply the Elliott wave principle, then my mission is accomplished.

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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.