Wyckoff trading method, page-518

Yep it is used frequently, big ones and little ones, low volume, high volume, you see them all the time (especially on intraday futures charts where liquidity is heavy).
What I meant was that the shakeout is more often used to remove supply from above, rather than for accumulation purposes.

That said, every chart will have its own type of personality, sort of like its own style of presentation, or how 'it does things' to achieve an end.
(probably reflecting how the professionals who are involved 'do their trading')
So some instruments will shakeout more than others, some may do two bar shakeouts regularly (or even the quite unusual three and four bar shakeouts).
Whereas other charts may not show them so much at all in comparison.

You should always have a good look at the chart you intend to trade and get a good feel for how it presents, and what has happened in the past, and how it reacted....as it may well do similar things again in the past, especially is the same professionals are involved (just like we'll see that CXO chart do soon.....I think....if you have a close look)

cheers