SebForLiberty Wrote:" The rising price, on volume, signifies more buying than selling pressure and the volume that there is an increase in interest. If little volume accompanied a rise then it would show that there was a lack of buying interest. "
Rising volume also means more people are willing to sell the stock as its price is going highter. If little volume accompanied a rise then it could also show that owners don't want to sell despite of the rising price, which is obviously a good signal.
Imagine yourself: an army penetrates a territory, without encountering the opposite army. Would you say the arriving army is stronger just because there wasn't a battle (yet) ?
Maybee it is. Maybee not. You can't say until both army actually fight.
When you have a volume on a breakout, you know that there is buyers' strongness. If there is not, you don't know. It is not that a breakout/breakdown without significant volume can not succeed. It is that such a breakout/breakdown has less chances to succeed.
All the Weinstein method is about observing a very few indications, which can maximise your chances of success. Volume, sector, and a few other things. You can choose not to consider them, but that will result in more unsuccessful trades.
It's just a matter of probability.