They will need more than luck. Even my pretty charts couldn't convince anyone. I put out the warning that price could retrace the entire measured move instead I get hounded about closing vol yada..yada..being unreliable...yada...yada..however, in the context in which I used it it wasn't now was it?
I have constant volume charts open side-by-side, I like how it evens out moments of high and low activity so you can see clearer patterns by volume; what may look like a quick volume burst on the charts may be sectioned into an orderly move on the volume chart. I've considered only seeing volume, but it's also worth knowing how fast the action happens, and NinjaTrader7 doesn't have a great way to measure time on the volume charts.
You are correct but the volume that once was is gone for now, and what's left produces more false signals.
If price breaks south of yesterdays close longs are in big trouble. If it holds we will probally get BIG ranging behavior today. Good for two legged scalps of 2 to 5 points.....over and over again...