CAD/CHF Signal- November 27, 2012

|

By: DailyForex.com

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 is an entrepreneur, investor and professional Forex trader who shares Forex signals based on his keen understanding of the market. Fadi is an expert in Elliott wav principles and Ichimoku Kinko Hyo, and he is a managing partner in one of the leading organizations in protective coating in the Gulf region.

In addition to sharing his trades as a member of the DailyForex trading team, Fadi is an expert trader on eToro, a social platform that allows traders to copy experts quickly and easily. Copy Fadi's trades on eToro here.