Wyckoff trading method, page-309

Sorry GF, I didn't properly answer your question about the shakeouts.......

That second shakeout probably had higher volume for a couple of reasons...because there was still supply hanging around (which was thwarting the breakout).
So pulling the price back again did its job, and shook some more of that supply that was causing problems.
The other reason was - if you look at the lows of that second shakeout, it was below the lows of all those bars, right back until the lows of the previous shakeout.
There was probably an element of stop hunting in that move, and some stops were obviously hit (with a stop placed too close to the recent price action).
The idea would be that any buyers since the last shakeout, if they placed their trade with a stop, would most likely be from short term traders.
And these traders would probably sell into any rally (taking profits too soon), and that those shares would need to be absorbed (at a higher price), if the mark up was to be successful. So a short sharp shakeout, to catch the tight stops, means those shares can be bought cheaper, and they won't thwart the breakout at a later date by selling into the rally once it is underway.

cheers