The Dow Jones is at a critical level

Trading is all about adaptability, and traders must be prepared to abandon their plans to stay out of grief. With his most recent trade blown out of the water, John C Burford hunts for a second.

Just to prove once again that markets are full of surprises, the suggested Elliott wave count in my lastpost was well and truly blown out of the water.

Just after I had finished writing on Friday afternoon, the market caught a bid and zoomed up, thereby destroying my wonderful third wave' interpretation!

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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.