Unusual volume activity on the ES

Today we had very large volume on the last two one minute price bars near the close (16:00 EST - 21:00 GMT) on NYSE. The volume was around 3 times larger than usual over the 2 minutes. This same thing occurred back on 31st July and I had also wrote about it on this blog. I do not know what this means in relation to buying or selling, except that we are going to have some large moves over the next days and weeks.

The last time this occurred, we had the NFP the next day and price fell for 2 days before a large rally took place, so maybe that will occur again.  However, with the recent weakness I have seen in the market, maybe, we will get two up days and then a large sell off. We may break the recent high and take out all buy stops and encourage Bulls into buying the breakout, before slamming down.  However this is pure speculation as I am not an oracle and I do not know what will happen.

On another note, I got a very good long at a demand level I saw formed after the NYSE open and I took 5 points to a supply zone. Pity as price went another 5 points, where upon it fell like a brick after that.  The demand zone was seen on all time based charts and also the 20K volume chart, so it was a very high probability zone.  I went to the 1 min chart to get a better entry point where I would have a smaller stop loss of 5 ticks.  So quite a good trade.

Pity I had stopped trading when the large sell off took place as the set up was something I look for in a reverse. Here are some screenshots from today.