What I meant is that many traders reverse their position when stopped out. So if you're long a stock near its LOD and it breaks down the LOD and hits your stop, many traders would then short the stock, assuming that such a breakdown means further to fall.
I agree, but so many posts say you can't tell anything with volume. What would you say is the rule of thumb when using volume to determine what constitutes a significant high or low?
I guess if your strategy is to trade with day highs and lows, you better implement Support/Resistance on your plan. Even though you have a strong high or down, you better hold back for confirmation.