When volume builds in a price range, that represents the market's setting of value in that time frame. That estimate of value can be regarded as a kind of magnet, as weak rises and declines above and below the range tend to return to value. We saw that in much of this afternoon's trade, as volume built in the 1045-1048 price level. Strong moves away from that level can be conceptualized as breakout moves; failed breakouts can be traded for reversion trades back to value. An important facet of market preparation is knowing those price levels from the current and recent trading sessions.
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