GaryChew_CFTe

GaryChew_CFTe

After consolidating for 2 months, this semiconductor powerhouse finally broke out to new all-time-highs from its rectangle yesterday. With most tech stocks still recovering from the correction of the last 2 weeks, such a move signals strong underlying momentum. TSMC counts the world’s biggest tech companies as its customers - Apple, Intel, AMD, Nvidia, Qualcomm,...

GaryChew_CFTe

Sometimes, a failed pattern (in this case a descending triangle breakout to the down side) says more about the next possible move than the pattern itself. It is early days yet, however after the relentless sell-down since March, this may mark a short or even medium term bottom for USD. Interesting how this turn of events coincides with most other markets -...

GaryChew_CFTe

I would argue that since 2014, the Dollar has been the single most important indicator for Malaysia's KLCI, and perhaps for most Emerging Markets. Note the inverse correlation between the DXY Dollar Index vs KLCI. With the Dollar finally finding some support and perhaps making a bottom (temporary or longer-term, who knows?), will probably mean a consolidation...

GaryChew_CFTe

Zoom has broken out of a Flag, signalling the next leg in its bullish move. This one's a keeper!

GaryChew_CFTe

A Malaysian semiconductor stock listed on the KLSE, coming towards the upper boundary of a 5-year consolidation pattern. Depending on how you draw it, it could be a rectangle or an ascending triangle - no matter, the pattern is bullish at this point in time. The icing on the cake is the small symmetrical triangle forming on the daily chart, which will work nicely...

GaryChew_CFTe

This Malaysian stock listed on the KLSE has been basing for the last 5 years, possibly forming the rare "Compound Fulcrum" pattern. Price has broken out of the right shoulder high and pulled back slightly in the last week. This week will be telling if the move has legs to continue higher or further consolidation is up ahead.

GaryChew_CFTe

BROADCOM just broke out to new all time highs, launched from an ascending triangle... I like! Earnings call on Sept 3rd may move it further... Relatively late to the tech party but never too late.

GaryChew_CFTe

With BTCUSD attempting to reach escape velocity from the almost 3-year symmetrical triangle, my view is that it will consolidate for a bit before making another attempt to take out $12.5K and reach the Jun-19 high of $13.9K. The weak Dollar narrative will certainly add fuel to this rocket, once it launches! #tothemoon

GaryChew_CFTe

92.50 is the line in the sand for me wrt the Dollar. The DXY has been consolidating at this critical support for the past month or so. A possible descending triangle right at this juncture does not bode well for the greenback. If the index breaks below the triangle, 88.7 is next.

GaryChew_CFTe

IMHO, this is the ultimate case to be bullish Bitcoin - IF the support trendline breaks to the downside. It is certainly making an attempt to do just that. The next several weeks will be telling. Note: this is a Log chart.

GaryChew_CFTe

A potential triangle in Bitcoin... One could argue this may be a half mast flag, which then means we can expect the next leg up to reach $30K levels... #BTC

GaryChew_CFTe Updated 

For those who missed the Bitcoin train (more like a rocket!) to the moon - yours truly included, here's your second chance. ETHEREUM is breaking out of it's ascending triangle and into all time highs. The % gains will likely be better than Bitcoin's going forward... but don't quote me on that haha.

GaryChew_CFTe Updated 

Things are not looking too good for the Malaysia Bourse, short term at least. Breakdown of a rectangle signals a down trend. Unless it morphes. Which it may. =) #KLSE #KLCI

GaryChew_CFTe Updated 

Still riding on the weak USD theme, Cable may be the next on the bandwagon. However the breakout is taking a break ;-) We'll need to see a daily close above the recent high at 1.3338 before riding this baby north. Will be keeping a close watch on this one.

GaryChew_CFTe Updated 

A right shoulder has formed to potentially reveal an inverted H&S... A breakout above the neckline will confirm the previous H&S top failure, and launch this inverted H&S. EURUSD, you're Head and Shoulders above everyone ! Really. :D

GaryChew_CFTe

It appears we may finally have a clear breakout from the inverted H&S.

GaryChew_CFTe

Looks like WTI is giving us another shot at going long. With stops now at last pivot low, giving us a nice Risk to Reward.

GaryChew_CFTe

After the H&S breakdown and reversal, it now appears that EURUSD is attempting to breakout of the right shoulder of the H&S pattern. This would effectively mean a H&S failure, a tradeable pattern in its own right. Putting more weight on the Long side, is the 2.5-year rectangle breakout, which was already confirmed back in July but was stalled by the H&S pattern....