Keep an eye on volume relative to candle size. Take note of the following when approaching key S&R levels:
*Note all volume and candle size definitions are based on and relative to surrounding candles in the same price range.
High volume within a small candle. [Indicates absorption and typically price reverses there after]
Low volume within a large candle. [Indicates lack of interest from the aggressor and typically price reverses there after]
The same logic can be applied when volume and candle size (price action) are in agreement typically we see price continuation. IE. high volume & large candle.
*Note all volume and candle size definitions are based on and relative to surrounding candles in the same price range.
High volume within a small candle. [Indicates absorption and typically price reverses there after]
Low volume within a large candle. [Indicates lack of interest from the aggressor and typically price reverses there after]
The same logic can be applied when volume and candle size (price action) are in agreement typically we see price continuation. IE. high volume & large candle.
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Keep in mind this approach cannot be used on its own. As always, use the indicators that work for you as confirmation or rejection of price movement. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.