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  4. EUR/USD Signal Follow Up - 11 January 2012
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EUR/USD Signal Follow Up - 11 January 2012

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 a follow up on my previous post, We see how wave 3 ended at 1.26670 and bounced back to .0382 fib level at 1.28200 forming first wave in a zigzag ABC and down to 1.27290 for wave B, and now going to its last wave C back to 1.28200. Some times wave 4 get very complex, but sooner or later, it will break to form wave 5. I suggest to hold short waiting for further drop most probably today or tomorrow.
Action: Hold Short
Target Area: 1.2500
Stop Loss: 1.28800

EUR/USD Signal 1.11.12

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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