medium · Order Flow Analysis absorption-exhaustion-imbalance

A 5-minute bar in the ES starts with heavy aggressive buying (green) in the lower half of the range, but then shifts to heavy aggressive selling (red) in the upper half before closing near the midpoint.

What does this internal color transition suggest?

  1. The bar indicates a 'Gap-and-Go' scenario where the open price was defended by institutions.
  2. The market experienced a failed rally within the bar, as sellers took control at higher prices.
  3. Passive buyers absorbed all selling pressure at the top to prepare for a breakout.
  4. Buyers established strong initiative control throughout the entire duration of the bar.

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