Australian Dollar Starting with the weekly chart, consolidation is evident. On the daily chart, a retest of the previous support within the consolidation. A four-hour chart shows an RSI divergence—a gem for counter-trend traders. The one-hour chart mirrors this setup. Reading trend movements with precise filters is pivotal to distinguishing buying from selling opportunities.
🔍 Weekly Chart Insights 🔍 A Gartley pattern is brewing at 61.67 on the weekly chart—a potential buying level. Transitioning to the daily chart, a retest of the Gartley pattern hints at earning extra income. The RSI divergence adds confidence. Conservative traders should wait for candlestick confirmation before proceeding.
📊 Four Hour Chart Dynamics 📊 An ABCD pattern on the four-hour chart presents a trading opportunity. Prudence calls for awaiting additional confirmation.
🕒 Timing the Trades 🕒 My focus leans towards the four-hour chart. I aim to engage around 9:00 AM Singapore time when candlestick formations provide supplementary confirmation.