medium · Volume Price Analysis
You are analyzing a 15-minute EUR/USD chart during the London session. A candle breaks above a well-defined resistance level at 1.0850, but its tick volume is significantly below the average of the last 20 bars. The next candle forms a shooting star.
What is the recommended action?
- Hold existing long positions as this is a 'No Supply' test.
- Wait for the New York open to confirm the breakout.
- Enter a long position as the breakout has cleared resistance.
- Prepare for a short entry as this is a 'fakeout' or Upthrust.
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