medium · Volume Spread Analysis wyckoff-phases-schematics

According to the principle of 'Effort versus Result,' if you see ultra-high volume on a wide-spread down-bar, but the next bar is up, what was the likely 'Result' of that effort?

1. The effort was successful, and the up-bar that follows is a temporary bull trap.
2. The effort to fall failed because the volume contained professional buying (absorption).
3. The huge volume printed on that bar was essentially fake, so the next bar's result barely matters.
4. Supply is completely swamping demand here, so the market should collapse after a brief resting pause.

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