GBP/USD Signals - August 28, 2011

Fadi Steitie

| on August 28, 2011 | Updated on August 28, 2011

By: Fadi Steitie

Currency: GBP/USD
Strategy:Elliott Wave principle
Signal: Short Selling.
Trade Description: Trend reaching wave four at 0.382 Fib Level or (1.63797 price point) then down toward wave five targeting 1.6200.
Target: 1.6200
Stop Loss:1.6400
Duration: Two to Three days trade

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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