nmike

AUDUSD Advancing Cloning

FX:AUDUSD   Australian Dollar / U.S. Dollar
16
This CLONING technique begins with a circle drawn around distinctive high /low swing points, then I placed a rectangle (square) with the 4 sides touching the outer circle edges. I CLONED the rectangle/circle and placed them side by side. Diagonal trend lines are drawn corner to corner of rectangles and I also placed horizontal trend lines across all mid point of rectangles, in the process we end up with diamonds and triangle shapes. I have not used this particular technique before but after testing a few charts it looks promising. See below a chart of the EURO, but on the EURO chart I left out the circle CLONES. I have put 2 arrows on this chart showing 2 possible near term scenarios. I will be following this chart and others to see how things work out going forward using this technique. CLONING should be used with other analysis for confirmation.

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