There is a bit of that, actually. The goal of Price TA is to identify "correlations". That is, "After the market does ______, it then is likely to do _____... for a bit". That isn't as much to know as we'd like, but it's all we get. As to "follow-through"... don't get to know that. Have to play it by ear. Agree about volume. It is worse than irrelevant! (I know, I sound like a broken record when it comes to volume. I've said it enough times I really should keep quiet about it by now, but I still get a kick out of needling/annoying traders who hinder their success by including volume in their analysis/trading decisions.. and then there's the "conventional wisdom heresy" thingy.)
Browsing the net and stumbled upon this quote: The thing I hadn’t paid much attention to was volume. I’m not talking about the little bars at the bottom of all the charts (I found those can be misleading, too). When I started looking at the end-of-day overall market volume data, the true direction of prices became much more clear and easier to recognize. Then I thought, why not just ignore price entirely?
Volume is helpful to confirm breakouts and pivots, although often in a minor way. Price action is everything
%% Exactly; + sometimes a huge # of minor clues helps.Futures magazine[last 3 months of 2010 ]had QQQ volume average day 66 million.Its closer to 50 million now/so buyer beware.Earlier in the year/price was better, so no problem FDN is till about the same; spxu is better volume............................................ Back to the future/LOL
For me it's easier to trade something like this example as a Dbl Bottom Measured Move than as a Volume based trade. I like the simple black-n-white go-nogo nature of the dbmm process. How To Trade Reversals By Spotting The Big Players With Volume Spikes https://www.tradingsetupsreview.com/trade-reversals-spotting-big-players/ Volume-Based Indicators https://finviz.com/help/technical-analysis/volume.ashx
Any Volume users - what's goes on here? On a live note: She trades three touch ... https://elitetrader.com/et/threads/...k-thats-understood.365269/page-2#post-5551139
%% NOT to make this rocket science 'caus its NOT\LOL Have ye ever considered useing volume color that matches the price color/easier to read + remember/comprehend??, Back to my charts with 50dma + 200 day moving averages........................................
OB using volume to view the ES contract 10 minute chart, short and sweet. cued.... https://www.elitetrader.com/et/threads/help-me-understand-volume-price-relationship.364321/