I'm selling this pair now as per my FULL ANALYSIS post (see Related Ideas: "FULL ANALYSIS: USDCAD: Is The TOP In? Selling? CONSIDER THIS!"). My stops will go above the recent highs which I am calling the end of the wave 3. So if prices do go above this point, then my wave count is wrong and the wave 3 is not done yet. Therefore, I would need to again wait to see when wave 3 will be done. My profit target for this will be the completion of the cypher.
*DISCLAIMER: Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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now.. support 340.5...further 343/346 OR down support about 337/338
GaliX
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why do people try to call tops of something? just follow the trend...
There are rumors about QE from the Bank of Canada as the next step.
EverythingForex
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Because everybody wants to catch the top which is the beginning of a new trend. It's logical. To do so means maximum profit with minimum risk. Not EVERYBODY tries. Like you for example. Sounds to me you don't. But remember, the market NEEDS people to trade the top in order for any reversal to happen, right?