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: EUR/AUD
Trend Expected Direction: Down
Method: Elliott Waves and Fibonacci Levels
Description:Within a larger corrective Zigzag, Fibonacci ratios are forming toward equality in ABC toward %100 and withing C wave v=i. I will trade this opportunity and sell the pair. We can see clearly waves i, ii, iii, and iv at 0.216.
Recommendation: Sell & Hold.
Target Area: 1.24100
Stop Loss: 1.25590
