Bullish volume pattern at the end of today. The Emini gapped up 15 points this morning and the professionals immediately took profits.
Trampoline Volume Pattern (Emini 15 minute)
The gap was closed in the afternoon on a Climax volume pattern down bar followed by a high volume Churn bar (red then green volume bars). Then the Emini took off with 2 consecutive Climax volume pattern up bars. I like to call this combination of 2 Climax volume pattern bars in opposite directions the Trampoline volume pattern.
In the chart above there are 4 Trampoline volume patterns shown. These patterns aren’t infallible – a break below the low of a bullish pattern or break above the high of a bearish pattern will signal the failure of the pattern. So a break tomorrow below 1,345 would negate this bullish volume pattern.
You can read about other volume patterns here. Good luck with your Emini trading.