A Cross To Wave Five

Good Morning Dynamic Traders!

The CADJPY cross made a dramatic U-turn yesterday (BLOG 4 Nov) supplying a healthy yield for those of you who took this swing.
The daily chart (below) has produced a "tram track" whilst other chart patterns emphasize further vulnerability.

CADJPY daily chart Advanced Get

Below is the 4 hour chart

Yesterdays decline witnessed a trend line betrayal. Price is presently dwindling at a firm support area, considering an onward move.

We will need to see a definitive break of this support prior to confirming our positions towards a lucrative wave five continuation.

A mechanical ESLT is highly recommended!

CADJPY 4 hour chart Advanced Get

Good Trading!

Saba Jackson