medium · Volume Price Analysis support-resistance
A market breaks above a resistance level on high volume but the next two candles are 'shooting stars' on even higher volume.
What is the most likely outcome?
- The breakout will fail and price will reverse as the move was a selling climax.
- This is a successful test of demand and the markup will now accelerate.
- The market is entering a congestion phase before a true breakout occurs.
- The trend is very strong because volume is increasing session after session.
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