There’s unusual activity in the gold market

John C Burford identifies a telling pattern in the gold charts, and uses his 'split-bet' strategy to line up his next trade.

The gold rally continues. In my last post about gold on 17 February, the market had broken up out of a major tramline on the daily chart, giving a solid buy signal. That break occurred about $100 below the current market. Anyone who was following my tramline trading rule would now be in considerable profit.

After the break, the market went on to test and then close the open gap from last year.

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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.