Quick update from Friday's model. Price moved through the first EXIT on schedule (blue circle). Some changes were made to the model since Friday.
As I studied the model I discovered that I may have misplaced the control line for the second embedded Fall Channel, so I adjusted it accordingly. The originally drawn control line is still there, dashed. The earlier EXIT is still shown just above the current candle on the model below. Price may or may not rise to touch it--I have low confidence in it. (edit: price rose to touch the EXIT during the day.)
We see that the new Control Line CL2 inidcates an EXIT a bit below and a few days later than on the previous model.
Keep in mind that these models are not designed to predict the future, but are rather intended to show the forces that may act on price over time. As such, Lines Of Force is a method to assess risk. Artifacts appear to predict future price action, but they do not.
See the previous model from last Friday HERE.
Learn more about the LOF method HERE.
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