Riding the curves
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Trading the Spot Forex Markets Using Wyckoff Candle Volume Analysis.
It is a commonly held belief among Forex traders that there are no useful volume studies that can be performed in the spot Forex markets. Todd Krueger discusses how to use tick-based volume figures in place of actual traded volume numbers to identify the supply/demand imbalances that cause the markets to move.
Through my almost 25 years as a trader, I have found that there is a very high correlation between the amount of trading activity
shown on a tick-based chart to that of actual traded volume. If there is a great deal of activity shown on a tick-based chart, it
shows that there was a significant auction going on between buyers and sellers.