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: trend location is within wave iv in C which just met 0.382 Fibonacci level. I would suggest traders to increase their lots to maximize profits at this stage. One move wave v to unfold soon to complete the full Zigzag cycle and to meet 1.618 Fib level on primary level or %100 on larger cycle.
Recommendation: Hold Short
Target Area: 82.760
Stop Loss: 84.000
