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  4. AUD/USD Expected Movement - December 12, 2011
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AUD/USD Expected Movement - December 12, 2011

By Fadi Steitie
Fadi Steitie
By Fadi Steitie

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals with DailyForex.com based on his keen understanding of the market. His favorite pair is EUR/ USD because almost 40% of traders trade this pair and it does match most of his pattern recognition strategies. He is an expert in Elliot Wave principles as well as Ichimoku Kinko Hyu which he is currently researching. So far he has not seen many English translated books about this method of technical analysis, however he is continuing to read about it and believe this method has as much to give to traders like the Elliot Waves method does. Fadi is looking for the magic behind this principle even though many do not research this trading system.

By: Fadi Steitie

Currency: AUD/USD
Trend Expected Direction: Up
Strategy: Ichimoku Kinko Hyo + Japanese Candle Sticks
Description: With a flat 52 days Senkou B (Orange) gives an indication of losing resistance power on general trend. We also notice that Tenkan (Blue) moved above Kijun Red just below Kumo which gives a good positive sign for a Bull movement. On the other hand, in term of Japanese Candle Sticks, We see a strong green candle just above Tenkan followed by a range of small sessions ends with Hammer within Kumo that indicate a Medium bullish session coming on the way. With all the above info, I would buy the pair waiting for a bull move to take action.
Action: Long
Target Area:Open
Stop Loss: 1.0000
Risk: N/A

AUD/USD Expected Movement - December 12, 2011

Fadi Steitie
About Fadi Steitie

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals with DailyForex.com based on his keen understanding of the market. His favorite pair is EUR/ USD because almost 40% of traders trade this pair and it does match most of his pattern recognition strategies. He is an expert in Elliot Wave principles as well as Ichimoku Kinko Hyu which he is currently researching. So far he has not seen many English translated books about this method of technical analysis, however he is continuing to read about it and believe this method has as much to give to traders like the Elliot Waves method does. Fadi is looking for the magic behind this principle even though many do not research this trading system.

 

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