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  4. USD/CAD Signal- Follow Up
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USD/CAD Signal- Follow Up

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: With a Morning Star Inside Circle that came on Dec 7th that create a solid support just underneath the trend line, I still believe yesterday drop is just a correction wave going toward 0.618 fib level at 1.01939. I guess the trend went into a range bound which it is a choppy cycle. I will hold my long position and increase my lots once trend break and close above 1.0300.
Action: Hold Long
Target Area:Open
Stop Loss: 1.0000
Risk: N/A

USD/CAD signal 12/23/11

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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