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  4. CAD/CHF Signal- November 27, 2012
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CAD/CHF Signal- November 27, 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: CAD/CHF
Method: Elliott Waves
Description:Following a larger drop in pair earlier by motive wave (A) not shown, and a drop toward 0.9300 in a diagonal shape, I am expecting a pull back in a form of correction toward 0.9600 level in order to form wave (B). I support my view on micro level by a divergence in RSI confirmed an end to minor wave (e) at 1.618 or 0.93150. However, I would suggest traders and followers to watch the break or falling channel in order to trigger my buy and set Target and Stop Loss. Keep the trade on your watch list for today and stay tuned for a follow up on this trade.
Recommendation: Watch channel breaks. (will post more details once trade matures)
Stop Loss: N/A
Target: N/A

CADCHF Signal 112712

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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