Just saw: $IRYS 1-hour trading volume was about $7.78 million, 10.6 times the previous average; the price rose 2.26% over the same period.
People often ask what trading volume means, so here’s my take.
Volume spikes over short periods are more likely to be random. A large volume bar on a single candlestick may just be a one-off large order; several consecutive high-volume bars are more convincing.
High volume with the price barely moving means buyers and sellers are exchanging positions heavily at the current level. Which way the price goes next depends on which side gives way first.
Sizing your position based on where you place your stop-loss is much more reliable than guessing.
#IRYS
People often ask what trading volume means, so here’s my take.
Volume spikes over short periods are more likely to be random. A large volume bar on a single candlestick may just be a one-off large order; several consecutive high-volume bars are more convincing.
High volume with the price barely moving means buyers and sellers are exchanging positions heavily at the current level. Which way the price goes next depends on which side gives way first.
Sizing your position based on where you place your stop-loss is much more reliable than guessing.
#IRYS