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,...
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 -...
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...
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...
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.
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!
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.
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.
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.
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.
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
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....
This may be the week we breakout of this 7-month USDJPY rectangle.
Going down to the 4-hour timeframe we also see a nice cup & handle launching pattern... may see a signal this week.
USD look strong across the board, so choose your trades wisely... do not want to bet too heavily on the Long USD horse.
Total risk on the same side of highly correlated markets should...