Skip to main content

🎯 Top Volume Profile Levels to Trade This Week on EUR/USD, AUD/USD & USD/CAD

 

Do you want ME to help YOU with your trading?

Learn my proven Volume Profile & Order Flow trading strategies! Get my proprietary indicators and start making progress. We even set the indicators up for you so you can hit the ground running TODAY!
Start Learning to Trade Now!

Video Transcript:

Hello everyone, it’s Dale here with a new weekly trading ideas video. Today we are going to look at the EUR/USD, then the AUD/USD, and finally the USD/CAD. Before that, just a very quick note about a back-to-school sale which I’m currently running on my website. If you look here, this is my website, trader-dale.com. And if you click this button, “Trading Course and Tools” it will take you to the page where you can get the back-to-school discount. It’s valid until Friday, the 5th. If you scroll down a bit, you can get the Volume Profile Pack, the Order Flow Pack, the VWAP Pack, and the Smart Money Pack at a discounted price. You can buy them separately, or scroll further down and get a bundle of all four packs together for only $697. This offer is valid until the end of the week.

All right, now let’s go to the charts. What you see before you is the EUR/USD 30-minute chart on the NinjaTrader 8 platform, where I’m using my custom-made Volume Profile and VWAP indicators. On this chart, I want to show you two strong support levels I’m planning to trade. The higher one is at 1.1664 and the lower one is at 1.1644. Let me explain the reasoning behind them. Starting with 1.1664, you can see a strong rejection of lower prices here: the market first moved downwards and then aggressively upwards. That’s a clear rejection of lower prices. Within this rejection, heavy volumes were traded, as shown on the Volume Profile. This tells us buyers were active here, placing most of their long positions before pushing the price up. This makes the level important. It’s also the heaviest volume peak in this cluster, confirming its strength. Another factor adding to its strength is that this whole area was a massive volume zone in the past. So, if there’s a pullback, it’s likely buyers will defend this level again. That’s why I want to go long here.

The second level is at 1.1644. This heavy volume zone tells us that buyers were active in the uptrend, pausing here to accumulate more longs before pushing the price higher. So, this is another important zone. If the price pulls back, I expect a reaction here as well. My ideal scenario would be a pullback to the first level with a reaction, and then another pullback to the second level with a reaction. Those are my plans on the EUR/USD.

Now let’s switch over to the AUD/USD. This is also a 30-minute chart, and we have similar setups here because the price is trending like on the euro. Using the Volume Profile highlights significant levels. The first long setup is at 0.6531. You can see why: there’s a clear rejection of lower prices, just like on the euro. Within that rejection, a very strong volume zone formed. Buyers stepped in here and pushed the price up again. This level is also the beginning of a Fair Value Gap, which my software automatically highlights. So, we have both a heavy volume zone and a Fair Value Gap aligning here, making it a perfect spot for a long trade if we get a pullback.

The second level is at 0.6515, based on another heavy volume zone. Again, in this uptrend, buyers paused here, added to their positions, and then pushed the price higher. If the price pulls back, buyers should defend this area and push it up again. That’s the battle plan for AUD/USD.

Finally, let’s check out the USD/CAD. On this 30-minute chart, the price action shows a strong rejection of higher prices. Buyers tried to push the market up, but sellers stepped in aggressively and drove it down. When there’s a rejection like this, I want to see heavy volumes near where the turn happened, because that shows where sellers entered. The level I’ve marked is 1.3766, at the beginning of a volume cluster and a bearish Fair Value Gap. These align perfectly, so if there’s a pullback, sellers are likely to defend this zone, and the price should go down from here.

One more thing: take a look at this weak low. Buyers didn’t step in aggressively, and the reaction was small and shallow. Markets like to test below such areas. So, my ideal scenario would be for the price to hit the resistance at 1.3766 and then go for that weak low.

Before I wrap up, I’d like to announce the winner of the contest from last week. The prize was my custom-made Volume Profile and VWAP indicators for TradingView. The winner’s name is now on your screen—congratulations! For next week, I’ll run another contest. To participate, just leave a comment below this video on YouTube, and I’ll randomly pick one person to win the set of custom-made indicators.

That’s it for today. Thanks for watching, and I look forward to seeing you next time. Until then, happy trading.

Comments

Post a Comment

Popular posts from this blog

Beginners Guide to Order Flow PART 1: What Is Order Flow?

DEFINITION: Order Flow is an advanced charting software which enables you to read all trading orders that are processed in the market. It helps to track the BIG financial institutions through the trades they make. Most people get confused when they open up a chart with Order Flow for the first time. There is no shame in that. Order Flow shows so many information and it is easy to get overwhelmed and confused if you don’t know what to look for! This Beginners Guide will teach you how to understand how Order Flow works and how you can use it in your trading! In this 1st part of the Order Flow Guide I will show you around the Order Flow interface. Footprints The Order Flow does not show standard candles, but it shows FOOTPRINTS . A footprint shows not only Open, High, Low, Close (as standard candles) but it also shows orders traded in that candle. Orders can be...
Post a Comment
Read more

How To Trade The Point Of Control (POC)

DEFINITION: Point Of Control (= POC) is a price level at which the heaviest volumes were traded. The most important thing that the Volume Profile indicator shows is the POC. I dare say that if you used Volume Profile only for the purpose of identifying the POC, you would be a way better and trader then 99% of the retail traders. No matter what trading strategy you trade. Why do I say this? Why is POC so important? Point Of Control is so important because it shows the place where the most trading took place – where the biggest trading positions were accumulated. POC shows the BIG guys! Who accumulates those huge trading positions? The BIG guys – that’s the big financial institutions like hedge funds, pension funds, huge banks, etc… It is those BIG guys who move and manipulate the markets. It would be a huge advantage to know where they placed most of their positions, right? The good news is th...
Post a Comment
Read more

NZD/CHF – How To Trade The “b-Shaped” Profile

Today’s intraday analysis will be on  NZD/CHF  and I will start by talking about the structure of the  Weekly Volume Profile . Weekly Volume Profile structure In the previous week, there was a  “b – shaped” Volume Profile histogram formed. b – shaped histogram means that the shape of the histogram  looks like the letter “b”. It says that the market sees the value at the bottom half of the profile while rejecting the upper half. If you look at the picture below, you can see that there was a  rotation  (Monday, Tuesday), then strong  buying activity  (Wednesday), and then an immediate  rejection and a sell-off  (Thursday). Then again a  rotation  on Friday. One of the most important things to notice in a b – shaped profile is a  volume cluster created in the rejection area. In this case, there were two of them. Such a  volume cluster  indicates a place where the  sellers were...
Post a Comment
Read more