GcNaif

Trade plan for March 21/22, 2016 - Asian session

FX:XAUUSD   Gold Spot / U.S. Dollar
541 11 27
Analysis is based on Clones (a concept by @nmike).

Buy Levels: if a candle closes above 1247 then next levels are 1253 - 1257
Sell Levels: If a candle closes below 1240 then next levels are 1236-1231, if needed i will add more Clones to downside.

a. What are Clones: Clones is a concept shown to me by fellow Tradingview trader @nmike . Its based on important area where the price ranged/consolidated for a while.

b. How to Draw Clones: Pick the area where the price ranged/ranging, you can use pivots to find the range. Once the range is detected draw a box ,named it as reference range and the Clone the ref range box and put it one above n below reference range.

Note: this is not a trade advice/signal. These are just the levels that can be used for taking trade decision,,stoploss and take profits. Please do your own due diligence before placing the trade.

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I am a Chart Slave.Thank you TradingView and @nmike.
do you have more examples or website to see clones?
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VanTuan VanTuan
I mean How to draw range Clones
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GcNaif VanTuan
no there are no websites on Clones , you can visit @nmike profile on tradingview, he has some cool chats/examples
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VanTuan GcNaif
Pls tell me that I understand Clone right or wrong on AU H1
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Attack of the clones! All played out as u scripted! Good one
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GcNaif Neel_K
Thanks Neel
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I like the thought process. I know a guy who does a similar process with the open from the Asian session to the open of the London session, calls it Standard Deviation. I'm am also seeing a possible 3 drives, on the hourly, looking for the move to the upside. 1259 will be the 61.8 retracement. Good Luck, and thanks for the info!!!!!!
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GcNaif Heelfan23
thanks ,green pips to you as well
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Heelfan23 Heelfan23
Great job!!! This one worked out well. 1259 worked out perfect on the 61.8 retracement of the 3 drives, with extra confidence on the clone.
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I'm bullish on this market, so I would also buy on the bottom just when it reaches the limit of the fork.
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