fibo-dan-Trendlines2

fibo-dan-Trendlines2

Here is the chart of AUD / JPY H1. As you can see, prices have respected the short-term trend line for several days.

You think, “Hmm, that uptrend is as sweet as I want it to be. Buy AUD / JPY, even if it’s only for short-term trading. I will buy if I touch the trend line again. ”

Before you do that, why not try using Fibonacci? Let’s see if we can get a more certain entry price.