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?
VanTuan VanTuan
I mean How to draw range Clones
GcNaif VanTuan
no there are no websites on Clones , you can visit @nmike profile on tradingview, he has some cool chats/examples
VanTuan GcNaif
Pls tell me that I understand Clone right or wrong on AU H1
Attack of the clones! All played out as u scripted! Good one
GcNaif Neel_K
Thanks Neel
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!!!!!!
GcNaif Heelfan23
thanks ,green pips to you as well
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.
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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