This CLONING technique begins with a circle drawn around distinctive high /low swing points, then I placed a rectangle
) 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.