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: US INDEX
Trend Expected Direction: Unclear
Strategy: Elliott Waves and Fibonacci Trading.
Description: Zigzag completed at 100% AB=BC with a divergence in RSI. I expect an up move in the coming period. That means EUR/USD, GBP/USD might follow the move in different direction and fall for a correction.
Action: Long
Target Area: 9,800 for now
Stop Loss: 9,700
