Skip to main content

Trade Ideas, Setups, Chart Analysis – 30th July 2018


*Disclaimer: Presented opinions, trades and trading ideas on the markets and charts is not advice nor a trading recommendation. It is general information and it is for educational purposes only.
**You can learn more about my trading setups in my Volume Profile Webinar

SWING TRADES

All presented swing trade charts are Daily charts (Daily candles).

CAD/JPY long from 82.80 area

There is a pretty strong rejection of lower prices on the CAD/JPY. If you look at the price chart you can see that there were a few days of rotation at the low of the rejection. In this rotation, pretty heavy volumes got accumulated. After this accumulation, the price shot aggressively upwards. I think this is a clear sign that the accumulated volumes within the rejection were mostly volumes of strong buyers. When the price gets back to this area, those buyers will most likely defend their long positions and they will push the price upwards again.

CL (Crude Oil Futures) long from 64.00 – 65.00 area

There is a nice case of Volume accumulation setup on the Crude Oil. In the picture, I marked a sideways price action area in which pretty heavy volumes got accumulated. After this accumulation, the price shot upwards. This indicates that the accumulated volumes were volumes of strong buyers. When the price makes it back to this area, I think that those buyers will be defending their long positions and they will try and push the price upwards again.

INTRADAY TRADES

All presented intraday charts use 30-minute timeframe (30-minute candles).

AUD/CAD long from 0.9635 – 0.9640 area

There was a strong downtrend on the AUD/CAD recently. Now it seems that strong buyers took over. I think so because of the aggressive buying activity that took place on Friday. This doesn’t seem like an ordinary correction. The long bullish candles that shot upwards without any pullback are a sign of strong and aggressive buyers. Those buyers must have accumulated their long positions somewhere. If you look at the Volume Profile you can exactly see where – the rotation area around 0.9635 – 0.9640. When the price goes back to this area I think that the buyers will be defending their positions and that they will push the price upwards from this area again.

USD/CHF short from 0.9965 – 0.9970 area

There was a strong rejection of higher prices on the USD/CHF recently. Strong rejection like this tells us that strong and aggressive sellers took over and that they were more aggressive than the buyers. If you look at the rejection, you can see that the heaviest volumes were made around 0.9965 – 0.9970. This is the place where the sellers took over and where they placed massive amounts of volumes in the market in order to reverse the price. When the price makes it back to this level, those aggressive sellers will most likely defend their positions again and they will initiate a strong selling activity (again).

EUR/USD short from 1.1710 area

The last trading idea I am going to talk about is on the EUR/USD. There is a nice case of Volume accumulation setup. What I especially like about this particular case is the volume accumulation followed by sharp rejection of higher prices, which got immediately followed by rapid sell-off. This basically tells us that there were strong and aggressive sellers accumulating their selling positions in sideways price action. Then there was a false breakout to the upside and then strong sellers took over aggressively and pushed the price lower into a downtrend. For me, the most important place is the place where most of the volumes got accumulated before the sell-off started. This is the area around 1.1710. When the price makes it back to this area, I think that strong sellers will initiate strong selling activity (again) to protect their short positions. This should drive the price lower again.
Another thing worth mentioning is the nice reaction to the volume cluster which I also marked in the picture. I call this setup the “Trend setup”. You can learn more about it here: Dale’s setup n.2: the Trend setup

I hope you guys found my ideas inspiring and useful.
Happy trading
-Dale
P.S. Want my intraday trading analysis every day as well as swing trade analysis for 15 forex pairs every month? Then check out my Advanced Volume Profile Training Course and Members Forum for more information – Click Here to Start Learning Now

Comments

Post a Comment

Popular posts from this blog

5 Character Traits of a Successful Trader – Tips & Tricks of the Pros!

 Maybe you are interested in trading, and you have taken the first step by researching on forex trading. You might also be currently trading but going through a tough time with your results in the markets and dealing with the recurrent autosuggestion, telling you how this journey might not be for you or you are not capable of achieving successes in this journey. It is essential to know that you are not alone in this feeling, and before you fall into the rabbit hole of depression, feeling like a failure in yet another skill you have chosen. Let me make it clear; the answer is YES, anyone can achieve success in trading , including you. It would only cost you a few character trait adjustments. Before we delve in, it is vital to point out that success i...
8 comments
Read more

Recent Trade Breakdown: Combining Price Action & Volume Profile for Smarter Trades

Video Transcript: Hello everyone, it’s Dale here. In this new video series, I want to break down my recent trades. The goal of this series is to show you how I use my Volume Profile trading setups every day in real market conditions, so you can learn from both my wins and my mistakes. If you find this helpful, don’t forget to hit the like and subscribe buttons. Let’s dive in. What you see before you is a screenshot from my session yesterday. It’s taken from the live trading room we held in the  Funded Trader Academy . During that session, a new setup was forming on the  AUD/USD . This is the  AUD/USD  on a 30-minute timeframe, and the new setup was forming right here. There was a resistance level forming around  0.6364 . The reason behind this setup was based on a couple of factors. The main reason was a Volume Profile setup. If you look here at what I’ve highlighted, this area represents a heavy volume zone, which the resistance level was based on. You can see ...
Post a Comment
Read more

Bitcoin is Dropping Hard! Here’s Where Smart Money Will Buy Again

Video Transcript: Hello everyone, it’s Dale here. In today’s video, I’d like to talk about Bitcoin. The reason is that Bitcoin has been dropping like crazy, and a lot of traders are wondering where Bitcoin will go and what to expect. If I look at the chart and use Volume Profile, I would say that it’s pretty straightforward because Volume Profile very clearly shows the strongest support and resistance levels. So, let’s take a look at the chart, and let me show you. What you see before you is the daily chart of Bitcoin. This is the big picture, and as you can see, from the all-time high here, Bitcoin experienced quite a significant sell-off and is currently dropping. Right now, I don’t really see any strong support that would stand in the way of this strong sell-off. Let me use Volume Profile and show you what could actually stop the sell-off of Bitcoin. All right, so what I’m going to do is apply Volume Profile over this whole area to see the volume distribution. As you can see, there ...
Post a Comment
Read more