04/21/2014 – British Pound
Issued: 04/20/2014
June British pound:
1. Friday’s daily close below $168.12 in the June British pound is the weaker position and the earliest indication for continued decline and test/attempt at $167.65, then at/near $167.08.
2. Therefore, any further test of and hourly or especially daily close below $168.12 makes that level (or lower) selling territory for a tradable decline to $167.65, then $167.08 (or lower). Will message any lower entry in tomorrow’s session if the market further confirms.
David Williams
Issued: 04/22/2014
June British pound:
1. Yesterday’s (Monday, April 21) June British pound retested the critical $168.12 potential short selling territory noted in the previous update and closed the day at $167.84.
2. Today’s session advanced back to the $168.12 level, invalidating the original trade set up (by now, lower prices would have occurred). Any short entry taken at or below $168.12 should be exited at this point (current price, $168.12). Will message any further entry or indication as the market confirms.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.