so often in futures market -- I see a huge 1 min. vol. candle as it blows past a known resistance area into a new level /es 1340 -- blows to 1338.50 on huge vol -- and it's a perfect bottom!
But of course -- when 3 minutes pass and market does not go any lower -- it's obvious those were stop orders blown out -- and the pressure to go lower is exhausted. The market is now full of victorious shorts -- except they have to cover and there's no more buy stops to help them out -- so the bounce occurs.
Waiting for this big volume surge (often on the hour) will clear the way for a high-probability reversal. If the Blow-Off (BO) Candle occurs on a 3 pt. trendline --even stronger.