nmike

50% FIBS & CLONING

Long
FX:EURUSD   Euro / U.S. Dollar
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14
I've drawn a box using the 2 pivots high / low, that's the reference box. I placed 2 exact copies of the original box on top. As you can see the EURO went straight to the top boundary of the cloned box which also happens to be a key resistance.
In the reference box the EURO danced around the 50% FIB before the breakout. So if history repeats itself and the trend continues up, these are the forward steps. If the EURO breaks the 1st clone bottom the EURO is going back to the basement.