On the USDCAD
pair, we've had a decent up movement on the daily chart
for about 580 pips. Now a double top
has formed with the second top being lower than the second one. Essentially, this is a textbook double top
formation. Price is now at what one would call the neckline, and if broken, I am placing a sell order at 1.3375 with a target of 1.3325 and a stop loss at 1.3425.
1:1 risk/reward ration