Oct 3 Premarket Hourly. Dropped out of the channel and at previous S. 15m. Broke its stride. 5m. Potential S at the bottom and almost definite R at the top.
How it unfolded. 1. Price opens and rejects the premarket MP and breaks opening S/R. Buyers step up but are quickly pushed down by sellers. Buyer/Seller flip. We initiate a short though we expect this is to be short-lived as the intraday trend is up. 2. Buying activity and the line is broken. Price rallies but no selling activity at the top. As buyers make their appearance at the swing bottom we flip the remainder of our position and enter long. 3. Lower top, as compared to 1, we fully exit. 4. Price manages to rally past and follow through before forming a lower swing high with selling activity. We enter short but are quickly stopped out. 5. Price reaches potential R and forms a top, but no selling activity at the top so we stay put. Price then forms a higher bottom but at the top sellers immediately flip the swing point. Another buyer/seller flip, with a lower top. We enter short. Exit as sellers are quickly overcome on a higher swing low.