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  4. EUR/USD Signal- December 1, 2011
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EUR/USD Signal- December 1, 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: EUR/USD
Trend Expected Direction: Down
Strategy: Elliott Waves and Fibonacci Trading.
Description: Just to share one of the experts in Elliott waves that I know how good he is. I do share the same thought on EUR/USD but was not sure about the correct timing of trade entry. As shown in chart we are here at wave 5 of (c) and soon once trend hits the falling channel which is a triangle pattern, it is expected to fall to final wave C. This is a larger correction ZigZag heading downward with a Motive A, Zigzag B and Triangle C.
Action: Short Currency
Target Area: 1.32230
Stop Loss: 1.36130
Risk: N/A

EUR/USD 12/1/11

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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