GBP/CAD Signal - Feb. 19, 2013

Fadi Steitie

By: DailyForex.com

Currency: GBP/CAD
Method: Elliott Waves
Description: Technical trading for a corrective cycle that completed 100% of A wave with a five corrective Zigzags that hit the lowest at 1.5500 on 14 Feb on a support level 0.618 Fibonacci level, I would expect a bullish move shortly in order to form another correction or to go into motive mode. However, I will buy the pair at that level with open target looking for further strength.
Recommendation: Buy and Hold
Stop Loss: 1.5400
Target: Open

GBPCAD Signal 21913

About the Author
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 Pairs:
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