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  4. CHF/JPY Signal - Oct. 9, 2012
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CHF/JPY Signal - Oct. 9, 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: DailyForex.com

Currency: CHF/JPY
Trend Expected Direction: Flat
Method: Elliott Waves and Fibonacci Levels
Description: A middle correction within a correction create a sell opportunity. The trend is just below a strong resistance level. I would sell and hold Swiss franc against Japanese Yen for further drop. A normal motive wave has shaped up with a %100 waves i equals to v ended at 84.800. I thought to share with you this trading idea to share the profits on cycle completion.
Recommendation: Sell & Hold
Target Area: Open
Stop Loss: 84.350

CHF/JPY FX signal - October 9, 2012

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.

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