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

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Video Transcript:

Hey everyone, it’s Dale here, and in this video I’ll show you the strongest Volume Profile levels to trade this week. We are going to take a look at the euro, the Australian dollar, and the Canadian dollar. So let’s get to it.

What you see before you is the NinjaTrader 8 platform with my custom-made Volume Profile and VWAP indicators. And this is EUR/USD, and it is a 30-minute time frame. Here I want to talk about a resistance, which is here at this red line, and that resistance is at 1.1642. Now, this resistance is based on this very strong sell-off from Friday, and it’s also based on the volumes that formed before the sell-off. So if I show you with a Volume Profile like this, then you can notice that there is this massive heavy volume zone formed in this rotation right before this selling started. That means that sellers were accumulating their short positions here, and afterwards they pushed the price downwards.

So the main idea behind this trade is to wait for the pullback, and when the price hits this level, then go short from there because the sellers from this place are likely to defend this area and push the price downwards from here again. What makes this level even stronger is that the price reacted to this area in the past. That means here and here. At these places, not exactly at the level but in the general area, and that means that this level was a support in the past. When the price blew past the support, it turned into a resistance. Okay, this is a price action setup that confirms the main Volume Profile setup.

This Volume Profile setup, by the way, is called the Volume Accumulation Setup because the sellers were accumulating here, then pushed the price downwards, and now we are trading the pullback. The same logic will apply to the other examples that I want to show you, and the next one will be on AUD/USD.

So here we also have a 30-minute chart. This is AUD/USD, and it looks very similar to what we saw on EUR/USD. Again, we have a sell-off from Friday, and if I show you how the volumes looked before the sell-off, then you can see that there was this heavy volume zone here. So again, we have the Volume Accumulation Setup because we see sellers accumulating their shorts here and then pushing the price downwards.

So again, as on EUR/USD, we wait for the pullback. When the price hits this heavy volume zone, which is at 0.7195, that’s my level to go short from. Right. This is where you hit the short. Okay. That’s the beginning of the sell-off and also the place where the volumes were the heaviest. As you can see, the logic is the same as on EUR/USD.

And we’ll apply the same logic to the next trade, which will be on USD/CAD. Only in this case, it’s reversed. It’s not a short. It is a long because USD/CAD is basically more or less reversed compared to AUD/USD. They have a negative correlation, so they move in opposite directions, and that’s why we are looking for a long here.

So again, we have a rotation here where heavy volumes were formed. Let me show you. See those heavy volumes? Afterwards, boom, the price shot upwards. That means that here in this rotation, we are looking at strong buyers accumulating their long positions and then pushing the price upwards. And again, we’ll just be waiting for a pullback. When the price hits this level, which I have at 1.3858, then it will be a long from there because buyers from here should defend their positions.

One more thing that adds strength to this level is that if you take a look at how the volumes looked here, this gray profile is the weekly Volume Profile that shows how volumes were distributed throughout the whole previous week. You can notice that actually the heaviest volumes throughout that week were here. That means that this is a weekly Point of Control, and the price went upwards from it very, very strongly here.

So that’s a thing that actually adds strength to our level because it sits around that Point of Control, right? A weekly Point of Control for intraday traders is a very, very strong level that the market rarely ignores.

Okay, so those are the levels that I’m looking to trade. If you guys are interested in learning more about Volume Profile trading, then head over to my website. It is at trader-dale.com And if you click this button here, which says Trading Course and Tools, it will bring you to a page where you can browse my trading education and custom-made trading indicators.

All right, so thanks for watching the video, and I’ll see you next time. Until then, happy trading.

Now, before I wrap the video up, I’d like to announce the winner of a contest we had last time. The prize of the contest was my custom-made Volume Profile and VWAP indicators for the TradingView platform. And right now on your screen, you see the name of the person who won the contest. So, congratulations to the winner.

And what I’ll do next is another contest for next week. The only thing that you need to do to participate in this contest is leave a comment below this video, which I’ll publish on YouTube, and next week I’ll randomly pick one person to win this set of custom-made indicators.

So that’s about that. Thanks for watching the video, and I’ll be looking forward to seeing you next time. And until then, happy trading.