The battle of the tramlines

With gold throwing up a whole series of highs and lows, John C Burford draws in several tramlines to contain the market action. So, which way now for gold?

In recentposts on gold, I have shown how you can use the Fibonacci retrace levels combined with tramlines to plan many excellent trades. And since my last gold post on 6 February, there have been even more offerings!

Recall the hourly chart (below)from 6 February showing excellent tramlines.

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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.