Importance of volume?

In the world of equities, the volume indicator plays an important role. A breakout, for example, just isn't the same without some good volume behind it.

Reading through the threads on FF, one rarely comes across the topic of volume being discussed. Just how important is it, if at all? Are there any Forex trading methods that are based or partially based on volume?

we've discussed volume quite a few times, not sure where the threads are though

anyway, there are two ways to get volume in forex. first, you can look at "tick" volume, which is simply a measure of the number of ticks per bar. obviously, this could be misleading if light volume is being traded and there are a lot of ticks.

the second method, the one i prefer, is to look at the futures contract volume. for instance, if you want a volume estimate on the EURUSD, you can look at the volume on the CME futures contract "ECZ05". the futures market its not a perfect solution, but i find it is a great estimator of forex volume.