Fibonacci Theory practice

A when you see that the pair AUD/USD being the trend rising. Here we will try to use the fibonacci to predict, when and a good price to open buy. The trick is to know the fibonacci retracement level, you need to do is to withdraw from the lowest point of the swing (swing low) and the highest point of the swing (swing high)

It will look as you can see from the graph, the degree of retracementnya is 0,7955 (23.6%), 0,7764 (38,2%), 0,7609 (50,0%), 0,7454 (61.8%), and 0,7263 (: 76.4%).

So here we await a scenario predicted that prices will come down to the level of retracement which also means the level of support. Then the price went up again to move according to the trend. Well let's observe the price movement.

The price of moving past the level of 23.6%, and then move the bounce at level 28.2% but we see that the price of closing the candle cannot pass level 38,2%, so it's likely that this is the level of support. We confirm some time if the price moves up. If Yes, do open buy.

Seen that our prediction is correct, that the price back up following the direction of the trend.

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