Chartered (C27) How high can you go?

Chartered (C27) has broken the tough resistance of 1.44 (60.1 % retracement of mid 2004) and going from : 1.49 => 1.68 => 1.75 (100%). Must also respect the 1.40 => 1.34 (50%). To me this would mean if it clear 1.49 we can expect a good ride to 1.75. If breakout happens to be false it will be back to 1.34.
P/s: This is just a educated theory based solely on F. Retracement theory as a guide only & certainly not a call to buy or sell.