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  4. AUD/CAD Signal June 22, 2012
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AUD/CAD Signal June 22, 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.

Currency: AUD/CAD
Trend Expected Direction: Down
Method: Elliott Waves and Fibonacci Levels
Description: ABC Zigzag completed 100% in wave II. A beak in momentum already accord earlier when channel broke on Feb, 29 2012. The general technical outlook is bearish and further drop is expected! I will follow the trade and post further follow ups in order to maximize our profitability. A channel breaks below 1.0300 confirm a further drop.
Recommendation: Sell & Hold
Target Area: Open
Stop Loss: 1.04100

AUDCAD Signal 62212

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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