Short Based On Clones
Updated
Price has managed to move 3 full ranges from the reference range I had cloned. Additionally price "stalled" at the top of the range last night. Given the fact the weekly .618 fib isn't to far away I think we can enter a short somewhere in this zone. I will be shorting in the 114.40 zone with a stop just above 115.08.
The 114.40 zone is a 50% level within the 1/4 range of the box. 50% levels are more commonly rejection levels so that is why I have chosen it as my entry.
The 114.40 zone is a 50% level within the 1/4 range of the box. 50% levels are more commonly rejection levels so that is why I have chosen it as my entry.
Note
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