'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by 
I would not yet be certain a bottom has formed on the EUR/USD but we certainly moved closer to it today. I had mentioned in my previous post to expect a sudden move down and behold, we saw this happen during the previous session.
I would use caution until we have a clear rejection of the low before becoming an aggressive buyer, as there may still be one final swing lower.
What I would watch for here is a final capitulation of the low in an aggressive and powerful move upward to be the signal that the temporary bottom may be in place.
Cheers
dear Mr.charlebois hi,now new low for euro/$ @1.4698-1.47 pls adv. yr latest view awaiting for yr reply urgently B.regards
Hi Pierre
Do you think that euro/$ could dip to 1.44 today before the up thrust?
thnx
ron
Hi Pierre
Do you think that euro/$ could dip to 1.44 today before the up thrust?
thnx
ron
I am replying to the two comments that are asking where I think the extreme is on the EUR/USD.
I am always loathed to make specific predictions. I have said in the post that more downside is expected before the bottom forms but we are getting closer.
When a strong trend like this appears it is like a river that is flooding. If you would like to go in the opposite direction it will be impossible to take your boat and go against the current. You have to wait until the rains stop and the river recedes before you can paddle upstream.
I would advise waiting for any trade on this pair until a more apparent bottom has formed. Then there may appear a reasonable place for a stop loss. Until this happens I am on the sidelines.
I have found that my best trade is not to trade at all, until the trade comes to me.
There is one specific question that asks if I think we will see $1.44 today before the upthrust.
Currently $1.44 is over 300 pips away. So this will not happen in one day. However, it is possible that the price could reach that far in the next few sessions before the bottom forms.
The number one rule in trading is that no one can accurately predict the market. What profitable traders learn is to determine how and where to limit risk for better potential.
Cheers