Comments on: We have seen the Terminal thrust on the EURUSD today http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/ Just another FXstreet.com Blogs weblog Sun, 08 Nov 2009 06:26:05 +0000 http://wordpress.org/?v=2.5.1 By: Pierre Charlebois http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-48 Pierre Charlebois Fri, 15 Aug 2008 19:17:10 +0000 http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-48 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 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

]]> By: ron http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-47 ron Fri, 15 Aug 2008 17:51:51 +0000 http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-47 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

]]> By: ron http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-46 ron Fri, 15 Aug 2008 17:50:54 +0000 http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-46 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

]]> By: j.j http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-45 j.j Fri, 15 Aug 2008 16:11:06 +0000 http://blogs.fxstreet.com/disciplined/2008/08/14/we-have-seen-the-terminal-thrust-on-the-eurusd-today/#comment-45 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 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

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