The combination of higher highs, higher lows, and increasing volume strongly indicates an uptrend in a market or asset. Let's break down each element:

Higher highs: Each successive peak price is higher than the previous one, suggesting sustained buying pressure and bullish sentiment.

Higher lows: During pullbacks, the price dips to a level higher than the prior trough, demonstrating support and buyers stepping in at progressively higher levels.

Increasing volume: Rising volume alongside the price increase confirms the trend's strength. Higher volume on rallies signifies firm buying conviction, while higher volume on pullbacks indicates strong buying support.

These factors suggest a market dominated by buyers, pushing the price higher with increasing conviction. Technical analysts often use this pattern to identify potential buying opportunities or confirm existing bullish positions.