medium · Volume Price Analysis
A news event triggers a 'Long-Legged Doji' on a 5-minute Forex chart. The volume is extremely low, barely 30% of the average.
What is the most likely market intent behind this price action?
- This is a successful test of the news, signaling the trend will resume shortly.
- The market is in a genuine state of indecision as traders try to digest the surprise news.
- The insiders are stop-hunting and whipping the price to clear orders before a real move.
- A selling climax is in progress because the price could not hold its new highs.
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