Loonie breakout

Good Evening Ladies & Gentleman,

After a long period of oscillation, the Loonie has travelled south and broken through a strong support level and is looking likely to close today's bar beyond it. For many people this looks like a good confirmation of the downward trend continuation - which it very well could be! However, the smart money will take a closer look and realise that it is not quite yet time to jump in with both feet but to be patient. The four hour chart below reveals why.














As our great mentor re-iterates, after every big move there is a pause. The below chart is showing signs of a reversal candle pattern in the form of tram tracks. Should this hold true then price will indeed be delayed if there is going to be a continuation down. Employ ESLT or other filters in your arsenal to win over the probabilities in your favour.














Good Trading!
Bijal Shah