hard · Volume Price Analysis vpa-core
In the ES E-mini futures, the 15-minute chart average tick volume is 350. During the New York open, the first candle is a wide-spread up bar with 720 volume. The second candle is a narrow-spread up bar with 780 volume.
How should a practitioner interpret this specific sequence?
- The second candle is a successful test of demand, confirming a long entry is now justified.
- The second candle is a bearish anomaly indicating institutional absorption and potential reversal.
- The rising volume on the second candle validates and confirms a strong, continuing bullish markup phase.
- This pairing is a classic 'No Supply' bar sequence, one anticipating a massive breakout to the upside soon.
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