Transaction is not an interesting factor for price change. It's a basic fact that as a transaction occurs, demand & supply will decrease by an equal quantity and so their ratio will change that'll change price.
Interesting point to ponder is that price will change even without transactions taking place. It's just a matter of either side giving up first or various other reasons. For e.g there has been no transactions for gold taking place since a month or two and today we discover the largest mine of ready to supply gold in Africa, the price of gold will take a great fall even if no transactions occur and just on the basis of news alone.
So there is a difference between transactions taking place and changes in supply and demand taking place.
Indicators are so deceiving, always lagging. Trend lines & Calendars are the best.