Field notes
Reading volume spikes on thin Friday sessions
Friday afternoon on FTSE 100 futures presents a recurring trap: a sudden volume spike on a small-bodied candle looks like institutional participation, but thin liquidity often magnifies routine order flow. Learners in our foundations course practice distinguishing meaningful volume from end-of-week noise.
Why Friday volume behaves differently
Many UK-focused participants reduce exposure before the weekend. Market makers widen spreads. A moderate buy programme that would barely register on a Wednesday can print as the largest volume bar of the week simply because fewer contracts traded overall.
Compare to the 20-day average, not yesterday
Relative volume matters. If Friday's total session volume runs 40% below the monthly average, a spike bar inside that session carries less weight than the same visual bar on a Tuesday with normal participation.
Location on the chart matters more than bar height
Volume spikes at prior-week highs or lows deserve attention — someone defended or attacked a level. Spikes in the middle of a range on a Friday often reflect position squaring, not new directional commitment. Mark the level first, then ask whether volume confirms or merely accompanies drift.
What we do in Sunday recaps
When reviewing the prior week, we isolate Friday's session and compare its volume profile to Monday through Thursday on the same instrument. Learners share whether they traded the Friday spike; those journal entries often reveal entries taken on bar height alone without range context.
Practical rule for your journal
Before acting on a Friday volume spike, note three items: total session volume vs 20-day average, proximity to a marked structural level, and whether the candle closed beyond that level. If two of three are weak, treat the spike as informational only until Monday confirms.