Ladies and gentlemen, there is no need to make stubborn stacks. Sounds like a cool name but trust it sucks. Here we have AUD USD, which has been bearish since Q3 2011. From top down on the Monthly looking at more relevant data we see the most recent LH began forming the beginning of last year. We did see a break up of structure the second half of 2020 which retested forming a HL around 0.70215. Price ranged for 6 months around 0.77423-.8000 before engulfing, evening star and breaking down that same HL zone only to break it almost a year later. Engulfing Momentum candles with bearish pressure and strong closes began printing on June 2021, another Nov 2021, Jan 2022, April 2022, June 2022 and maybe so on. We have 10 days left with buyers exhaustion to the back of this current bearish candle, pattern and intent looking in favor of the dollar. I pulled out the fibs for simplicity, but you can look for a wickfill long term HTF down to 0.66812. This was all off the Monthly to build confidence, the Weekly gapped down forming a bearish piercing line/ engulfing. Happy Trading!
