Next upside Clone boundary target is around 55800 and an intermediate upside target of 50600, a short term retrace could see price down to bottom of current Clone boundary or to top of channel
Very interesting approach. Thank you for posting. April's candle just begs to be filled in. But in your analysis, once a new level has been entered, and clone created, does the base of the new clone then become a hard floor, so to speak? In other words, 55.8 should really hold from this point?
nmike
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@ianrdouglas, yes exactly, top of new Clone boundary becomes new resistance & bottom boundary becomes the new support level. Bottom of new Clone level may not necessarily become a HARD level ,it could just be a minor level as opposed to a KEY level it all depends on other over all analysis, whether it's a short or long term trade and at what point you entered the trade.