Q there is a million ways to use volume
trade guider - 'master the markets' 'fourth edition'
explains volume very well.
since the spike on the 26th to keep it very basic, as price drops you will want to see volume decrease in the downtrend meaning that the push downwards is loosing conviction as price heads lower, the moves get weaker.
if you have a downtrend on increasing volume = bad
downtrend on decreasing volume = good
also you need to look at the spread of the candle in regards to volume.
wide spreads with large volume = good/bad depending what side of the trade your on.
eg. your long PDN, if you get an up day with a large spread on big volume = bullish
but if you were to get a candle with a wide spread on small volume in an uptrend or start of a move you will be assuming this move is less bullish then what it seems. = bearish
but if you were to get a candle in an up trend with a small spread with large volume indicates that the buying was absorbed by a seller = bearish
you will see this near the top of trends.
and in a downtrend if you have a small spread candle with high volume that = bullish
you will find this near the end of a down trend
chart suggests a drop to 45-48c area, page-38
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