key lesson here is: it’s important to watch volume when prices

key lesson here is: it’s important to watch volume when prices appear to shift to determine whether it’s a true trend reversal or a quick pullback for liquidity.

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Observed on the SPY 5 min chart on Dec 10, 2024. Here’s what we saw:

1) market had a major pull back in the previous day after failing to break or hold the ATH, giving us a bearish bias

2) prices started off pushing up, but a bearish inverted hammer appeared at a key liquidity zone, shifting prices back down to retest lows

3) a lower low formed, but prices pulled back up, particularly on low volume, and failed to hold, forming a lower high

4) a lower low once again was the confirmation

Always use proper risk management and stop losses as nothing is certain. Simply trying to interpret supply and demand.

Did you see something else? Comment and share

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