Had a go at this one, haven't read past it yet so not sure if there are any other answers, apologies for late homework Jako
It took me while to consider the differences in wording and after some thought I think I realised what the larger arrows were for
Bar 1. Following an upthrust on small volume saw a massive sell down, volume was unusually high but spread was contained as everything appeared to be soaked, the small rise the next day confirmed there was potentially accumulation, a sign of strength.
Bar 2. After previously bumping into overhead resistance on reduced spread and closing low but not falling below previous close, we saw this bar breakout or "cross the creek" on increasing spread and again unusually high volume, closing just off the high and the massive volume shows there was plenty of selling to overcome and good reason to be wary of potential weakness moving forward but otherwise showing strength in the dominance of the buyers. The next bar was up with an even greater spread but on less than half the volume, weaker in comparison to the day before, possibly why it reversed the next day. Interesting that this 2 bar reversal failed and price moved even higher, possibly by the last "all aboard" movement, before price came back to test the "crossing of the creek".
Bar 3. After some consolidation in a trading range, price again moved higher but on much lower volume, a previous upthrust possibly failed to draw out the sellers in volume and, after testing the support of the more recent breakout, this bar appears to be a shakeout, if confirmed, a sign of strength possibly engineered to draw out any potential overhead supply and also reaccumulation for the next move up.
Bar 4. Following what appears to be another shakeout which failed to draw out the volume, price here seems to have again consolidated into the centre of the trading range before breaking higher on increasing volume and spread, unfortunately it failed to even reach previous highs before supply appears to have appeared and knocked it back down for another round of pong. Strength 50/50, has the potential but needs more volume.
Bar 5. Following another break higher above previous TR on gradually increasing volumes with average spreads, price spikes rapidly higher with another sharp increase in volume, selling overtakes buying turning this bar into a potential upthrust closing on its low, this is the first sign of serious weakness on this chart. The next bar confirms the weakness as it trades briefly above but fails to hold and closes at the previous day's low.
Bar 6. After showing some relative strength by not collapsing immediately down to previous resistance/support, price moves sideways before breaking down below support, possibly as another potential shakeout which appears to initially fail before an increase in volume and spread on the third day pulls it back into range. This 3 day shakeout appears to balance out the previous upthrust however volume was much lower. Caution should be taken whilst trading within the range of that upthrust/SOW.
Bar 7. This bar follows a break above that previous SOW so has the potential to trade higher but volumes are low and spread reduces. After closing high the buyers aren't strong enough to maintain the momentum and the selling comes in as price fails to hold above the previous high, it would appear the CO isn't supporting the move. SOW
Bar 8. A last desperate attempt is made to move higher but this bar once again finds the sellers dominating and a potential upthrust is confirmed the next day as price gradually drifts lore as distribution takes hold.
This is my first attempt at writing up the individual bars, it's taken 2.5 hours but I'm happy with the result, it's now 2.20 and I've got work at 830 so best I go to bed
Cheers HF
