GBP/USD Signal February 14, 2012

Fadi Steitie

By: Fadi Steitie

Currency: GBP/USD
Trend Expected Direction: Channel Up
Method: Elliott Waves and Fibonacci Trading.
Description: Getting into some details here, trend now is within the last wave (D) and going into its final (E) targeting 1.66550. Anyways with today chart, I do see an expanded flat going into wave II at approximate 1.56480 or at 1.618 Fib level with a
falling diagonal ended with zigzag (e) (Shown in Green). However, I am a Bullish now with a stop lose at 1.54500 and open target waiting for the pattern to get completed.
Action: Hold Long
Target Area: Open
Stop Loss: 1.54500 For now.

GBP/USD Signal 2/14/12

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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