What volume measures
Volume counts shares or contracts traded in a period. It does not tell you direction, only how much activity produced the move.
Relative volume is the useful version
Comparing today's volume to the same time on an average day tells you whether a level is being tested with real participation or drifting on nothing.
Volume at levels
Breakouts on expanding volume have more follow-through on average than breakouts on flat volume, which is why volume confirmation sits inside most breakout rule sets.
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