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  1. DF
  2. Technical Analysis
  3. Free Forex Signals
  4. USD/CAD Expected Movement
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USD/CAD Expected Movement

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: USD/CAD
Trend Expected Direction: Up
Strategy: Ichimoku Kinko Hyo
Description: Impulse wave I have been completed on Oct, 4 2011 followed by a running flat correction completed by wave II.  Starting wave III on Dec 8th with i and ii ended at 0.5 Fib level.  On chart shown, you notice a turn in Senkou span A&B where shorter run 26 days crossed 52 days which indicate a positive sentiment (Red Circle).  We also notice a positive move in Senkou B (Orange Ave) comparing to previous 52 days and that the same apply for Kijun sen (Red Ave).  With that in mind, I decided to go long riding wave iii.
Action: Long
Target Area:Open
Stop Loss: 1.0000
Risk: N/A

USD/CAD Expected Movement - December 22, 2011

Check out today's other free Forex signals by the same pro trader:

EUR/JPY Signal - December 22, 2011

EUR/USD Signal - December 22, 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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