Video Transcript:
Hello everyone, it’s Dale here. Welcome to the next video of the new series, where I’ll talk about my recent trades. Today’s trade is on the USD/JPY. It was a very quick in-and-out trade, so let’s check it out.
What you see before you is the 30-minute chart of the USD/JPY, and the level I was trading from was this short level at 149.63. The reasoning behind this level—let me zoom in a little so you can see this better—was the volumes that formed here. From this place, there was a sharp sell-off. Even though the volumes do not particularly stand out, what’s important is that from this zone, there was a strong sell-off.
There was also a Fair Value Gap. My software highlights that, but when the gap is filled, it’s not highlighted anymore. If I mark it for you, this was the Fair Value Gap, which is a setup from Smart Money Concepts. I like to trade from the beginning of the Fair Value Gap, which is here. This is also the beginning of a heavy volume zone. That’s why I took this trade.
As you can see, the price just touched the level here and immediately moved downward. As I mentioned earlier, this was a very quick in-and-out trade. I exited the trade right here at the VWAP—this is the weekly VWAP. Generally speaking, VWAP is a very good place to exit a trade, especially when the price is more or less rotating. So, VWAP was my take profit level.
The stop-loss was placed here. The reason for this stop-loss placement is that if you look at the heavy volume zone, the stop-loss is placed behind it. Simply put, that heavy volume zone represents resistance—this whole zone acts as resistance. The stop-loss needs to be behind that resistance or barrier because resistance is not just a line; it’s always a broader area. So, this whole area was resistance, and the stop-loss was placed behind it. It was also at the top of this small swing point, which further reinforced the placement.
This was a 1:1 risk-reward trade, meaning I aimed to gain the same amount as I risked. So, this was my take-profit level. What’s important is having a good broker who actually fills your order properly. I’m trading with IC Markets, so I didn’t have any issues getting filled. I placed a limit order, got filled here, and took profit here—around 20 pips. That was it—quick in and out. Easy, right?
I published this level in the members’ area. You can see it right here—this is what I posted 13 hours ago, meaning yesterday, when I updated the levels. This is the USD/JPY, and this is that short at 149.63. So, all members had the chance to trade this level with me.
If you’d like to join us, you’re welcome to do so. Just go to my website, Trader-Dale.com, and click on Trading Course and Tools. It will take you to a page where you can browse my educational packs and custom-made indicators. There’s the Volume Profile Pack, which focuses on Volume Profile trading, the Order Flow Pack, which focuses on day trading with Order Flow, and the VWAP Pack, which focuses on VWAP trading. If you scroll down, you’ll see a discounted bundle where you can get all three packs together at a reduced price.
Alright, that’s about it. I hope you guys liked the video. And don’t worry, I won’t only be posting winning trades—since I started sharing my recent trades, they’ve all happened to be winners. But I’ll also be posting losing trades when they come.
That’s it for now. Thanks for watching, and see you next time. Happy trading!
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