The last 2 Goggle clone predictions worked out nicely: Goog
is currently overbought so it could correct to the .382 Fib. level. Cloning should be used along with other technical methods.
This time I have drawn 2 sets of horizontal clones on a monthly chart, one clone of a major high/low swing point and a set of clones of a smaller reference channel. Normally I draw a 50 % reference line in all channels. When clones are large in height it’s a good idea to draw Fibonacci retracements rather then having a single 50% reference line. Fibonacci retracements serve as general targets & support / resistance within a clone. Clone boundaries CONFLUENCE gives more validity to a predicted target. As you can see on this chart the next target is close to a dual clone confluence around 1250-1270.