Hi
@bilko
If we start way down the bottom and to the left of chart we can see that Huge volume with a red circle on it ?
now moving along that resistance line that I drew in we can see three attempted breakouts of it
note the volumes of those three attempted breakouts all becoming smaller.. obviously wearing down the original high volume of that first bar.
Bar #4 comes along with an increase in volume, breaks higher but then volumes ails off and it actually comes back down and back tests original breakout.
moving higher we can see breakout #5. note its on a downbar ..mmm
but anyway the latest grouping of bars (circled) are all sitting up there having a peek over the top on very LIGHT volumes.
if it attends to continue moving higher in price it will have to find a stash of volume/spread or else its retracement time, no ifs or butts
also note how it is appearing to form some sort of larger term wedge ..
hope this helps
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