medium · Volume Spread Analysis effort-vs-result-spread

What distinguishes a 'Shake-out' from a 'Genuine Breakdown' on a high-volume down-bar?

1. Breakdowns always show low volume, described as 'Falling Pressure', while genuine shake-outs always show high volume instead.
2. Shake-outs only ever occur during the '90-Minute Delay' reporting window, a narrow mechanism used specifically to hide professional buying.
3. Shake-outs must always close on the absolute high of the bar, whereas genuine breakdowns instead close somewhere near the middle of that day's range.
4. The presence or absence of distribution in the background; shake-outs occur in strong backgrounds, while breakdowns follow distribution.

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