medium · Volume Price Analysis climactic
An ES E-mini futures contract is trading at the top of a bullish trend. A candle forms that has a small body near the low, a long upper wick spanning 12 points, and volume that is 3.0x the average. Identify the candle type and the specific Wyckoff event occurring.
- Absorption of sellers; the wide spread here confirms strength of the bullish move.
- Upthrust on low volume; a manufactured trap testing for any remaining sellers overhead.
- Hammer representing a Buying Climax; insiders are accumulating in preparation for a breakout higher.
- Shooting Star representing a Selling Climax; insiders are dumping inventory to retail buyers.
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