 I'm Amis the Basel Chapman as we do each and every Tuesday at 20 past the hour and don't forget folks Basel's an outstanding show here every trading day 10 to 11 Eastern Standard Time and of course He has this great newsletter the opening call now It's very easy to get the opening call folks come over to our website at TFN You're gonna go at the newsletters You'll see the opening call right on the left hand side you can get the opening call for one month for $149 you can get it for six months to 695 which is the savings of $199 Dollars or 22% you can get it for one year for $590 for $1195 Which is a savings of $593 or 33% now they all come with a 30-day money-back guarantee So come on over check it out if it works for you great If it doesn't work for some reason bottom line just you can get your money back 29th day Basel Chapman What's going on? Hi Tom. How are you? I'm doing great yourself. I'm good. I'm just looking out the window I'm seeing some clouds. I hope it doesn't rain in the next two hours because I want to be out there playing tennis I like it. I like it. What can I say? That's right? Right. So what is it? Is it in the 80s 90s? Where are we at? It's quite warm. Yeah, okay Actually, it's quite humid. That's the thing. Yeah, your first cold spell is gonna be coming in any day now though I can always it's all what happens up there folks it and it feels so great when it comes in But I mean we're getting there. It's the 22nd of August. They better be coming in So talking about coming in we've got the dollar coming in so from the high that was made In the middle of August at 34,281 when I look at the speed of the pullback The suddenness we've been talking about that for at least two weeks We've been saying just be careful. There could be a quite a sharp pullback and the dating chart What is really impressive is that the weekly chart has had a buy signal Institute it's not yet a buy mode which means that you should go to at least four higher peaks But we're at a potential peak B here and the technicals are still very strong Even on this pullback So I'm looking at the shorter term and one of the reasons why we've stayed in our core long position in the diamonds But we did add a couple of days ago We did add the short side of it and that will be for new subscribers. That'll be a new position But for all the subscribers that know that this is really a trade We just kind of ameliorate the any pullback in our long positions. It's slightly more weighted to the short side But that's the way we're looking at it and one of the things that's important is you were talking about the dollar Just a moment ago. Yes was always fascinating to me is How does the market know Yeah, we've looked at markets now for for decades and and it's just incredible how especially over the last year and a half to the last Especially the last six to eight months How many times we get almost an exact double top? I know Two pennies from the previous highs of the dollar, which we still long from 2018 actually That's the year 2018 At 90 level is that a at a hundred and eight point sixty one it hit a hundred nine point two nine on the 19th of July Pull back pretty sharp enough. I mean sharpie just in this chart pattern formation to a hundred and four sixty four on the 10th of August and then ran up very quickly and today what did they do it went to within two ticks of That high of the 19th of July, but what I am looking at The magazine is good The night period strongly over the 14th period moving average. The sarcastic is fabulous at 94 percent The relative strength is pretty good in the daily chart Excuse me. Let me just have something to drink him and the weekly chart. Oh, that tastes the good And the weekly chart has made this you shape pattern that we're always looking at and the monthly chart Only needs to go three ticks higher than today's high needs to go to a hundred nine point three oh, okay Extend the monthly leg C So that I mean that's just a perfect use of the Chapman wave in terms of looking at The material that we have with cup formations That's what I always spend a lot of time on my webinars talk a lot about the cup formations or the arch formations The timing from the left side to the right side how our objective is always to get to at least a peak D How we can use an alternate county to at least be prepared for some kind of a pullback So this is an important moment just in price for the dollar But really the strength on the technical side that it says even if it pulls back And it should at least try to bump into the 109s again So that's I just wanted to say you know in my work with the left side right side price time match Looking at the matching price. It's a little upside in price because the cup bottom is more to the right So it's kind of a lopsided cup that it has all all the same potential plus the Chapman wave inside wedge Target resistance line right here said that today should be the test of 109 29 and it was so those things are working So it's very interesting. We took a lot of money off the table and in the last week or two because We were looking at some kind of at least shorter term topping formation So now we're out of our SOX L that's three times long the semiconductors We're hoping actually to get back in on this pullback and maybe keep a core position of just the smh's and then treat Anything more than that as a trading position. So we built up some cash We're taking a little bit off now three times along the QQ Q Still long, but we took a bunch off with very very good profits But what's what's really fascinating to me is that if you if you're fortunate enough to have picked an area that is still in favor Then that the residual strength as we can see for instance CF industries I spoke to you about this a little while ago about this pattern the stalk leg formation in the Chapman wave in the daily chart This is a company hydrogen Nitrogen products a clean energy fertilizer emissions abatement kind of everything that is being spoken about now So we're long from the 75s it had a hundred and ten point ninety-five today But the same path that I'm looking at this cup formation said that the left side high of a hundred and thirteen point forty nine on April the 13th plummeting down to the 79 18 area on the 14th and then it turned up and we went along long soon after that Actually, no, we were long. Sorry. We're long at 95 So 95 and now it's trading at a hundred and nine fifteen This particular pattern with the oval pattern says if it breaks to the upside If it extends more than a one-to-one from the oval pattern of what I call the body Then there's a chance that it's actually taken on a one-to-one formation that can go quite a bit higher Well, the target is the 113 area today It's almost hit a hundred and eleven said it's getting very close But look at this nice given the pattern in the cup formation the symmetry How you can see you see this large arch how it used the 200 period? I've had webinars on the 200 period moving average Look how many times it hit it never really broken by much always closed above it and then boom it took off so these are patterns that we look at all the time and most importantly It seems to be in an area. That's that's Actually working right now and has continued in the last few days with the general markets being weak And you've got the cup formation in the weekly chart and if it breaks to above a hundred fifteen fifty nine That will be a leg D in the monthly chart. That'll be very positive So we've got a few of those we had another one as well in in this particular area and that was NFE which is in the natural gas area and that's also gone to a peak D made a beautiful cup formation you can see so that's what we're trying to do use use patterns to trade and Keep keep keep cash ready for big pullbacks and jump over to the website folks check out the opening call But I have a great one safe one look for a show tomorrow. Thank you Tom