New TA/Charting, page-6289

Hi Goldilocks- here's another way to go forensic with it using the Volume Profile Session Volume tool and a bit of VSA (Volume Spread Analysis) for some bar by bar indications. This is the last week of 15 minute bars, and I've narrowed down the standard "Value Area" on the Volume Profiles from 70% of the days trading to 50% to attempt to get it to automatically show some volume shelves more clearly. Worked OK and they are the dark blue areas of the Volume Profiles.

I think the observation by @FlashPoint that the down moves are on a lot less volume compared to the opening move is interesting. Price is not being "smashed" down or capped with serious intent - where you tend to see a massive increase in volume at a specific level, suggesting selling with intent or shorts being used to manage the price. There are definitely signs of selling at specific points but then participation seems to drop off dramatically, as if some selling is introduced to help trigger a down move, then the buying is just "switched off" and price left to gravitate down. I listened to a podcast about a year ago where a fund manager was explaining the different types of algo's they use when trying to accumulate with size, and one of the methods was simply aiming buy pricing at a certain VWAP, and then basically switching off the buying when price exceeded the VWAP. I'm not suggesting the LTR moves are all algo driven, but just to point out this particular style of trading when there's a big position to fill.

Anyway, here's the chart for a bit of fun!