We published this trading rule on our blog almost 8 months ago, February 10 to be exact. You can look it up if you wish. With gold making all time highs on Friday, it seems like the perfect candidate for this rule. Just remember, there are no guarantees in trading and you want gold to close at or near its highs for the day.
I learned this rule over 3 decades ago in the markets from a low-key trader named Bill. Using his special trading technique, Bill made millions and millions of dollars from his office. The best part is that this technique is still working more than 30 years after it was taught to me and why I insist on sharing it with as many traders as possible.
Bill didn't even have a name for this killer trading technique and so I named it, "The 52-week new highs on Friday rule".
This technique has been working with amazing regularity. In the video, I show you that when a market is closing at a 52-week high on a Friday, you should go long. In case you missed it, and all of the rules, you can watch here.
When I hear people say that things have changed in the market and that they are completely different from what they used to be, I have to disagree. I think this is a good example why.
As always, our videos are free to watch and there are no registration requirements. Have you traded using the "52-week Friday rule"? If so, let us know how it went, but regardless of whether you have or not, leave your comments below.
All the best,
P.S. Here are the 52 WEEK RULES
Here are the three rules you need to trade "The 52-week new highs on Friday rule"
These are the exact rules that Bill used to make millions
Rule number 1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend.
Rule number 2: Exit the long position on the opening the following Tuesday.
Rule number 3: If the market opens lower on Monday, exit the position immediately.
There you have it. These are the only three rules you need to trade with "The 52-week new highs on a Friday rule" successfully.
"The 52-week new highs on a Friday rule" works extremely well in futures and in the Forex markets. This rule can be reversed for "The 52-week new lows on a Friday rule" if you are so inclined to trade the short side of the market. The same rules apply.