IMUGENE CHART. TA only, page-4844

Hi @TheChosen

Volume is essentially how many shares changed hands and when. By itself, it's useless but with a chart it can tell us a few things:

• Big volume on a break out higher means all the bulls are jumping in, fomo etc.
• Big volume on a break lower means everyone it's bailing out and dumping their shares for whatever they can get.
• Big volume on a run higher causing sideways action means smart folks are offloading some profits to fomo people and there will probably be a retrace.
• Big volume on a run lower causing sideways action may and smart folks area buying from people who are bailing out thinking it will go lower and indicates the start of the next bull wave.

As an aside, this is why the wave 1 in Elliot is always smaller than wave 3. Wave 1 is made up of the smart money early adopters. After the pullback (wave 2) Wave 3 is everyone else who now sees what those in wave 1 saw - a bull run and usually the biggest push. Wave 5 is generally smaller again as the 'smart' offload to those who are fomo and see the small pullback(wave 4)as an entry opportunity but all too late. Rinse & repeat. Waves within waves. Wave 3 of a larger wave 3 is always absolutely epic.