Trader Dale - Volume Profile Trading Blog

*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 new book: VOLUME PROFILE: The insider’s guide to trading SWING TRADES All presented swing trade charts are Daily charts (Daily candles) if not stated otherwise. AUD/USD short from 0.7388 There was a very long rotation on the AUD/USD. Now it seems that the price finally broke out of the channel into a sell-off. If this selling wasn’t just a false break-out then it indicates that there was a lot of short positions accumulated within the rotation area. Most of them at 0.7388 – this is the POC of the rotation. When the price makes a pullback to this area I expect that the sellers will defend their selling positions aggressively and that they will push the price lower again. AUD/NZD long from 1.0896 This is a very similar...

Sometimes there is an unexpected news that hits the markets in the most unwanted moment – when you are in a trade. This happened yesterday when I entered a long on the AUD/USD. AUD/USD long 0.7395 My long level was based on a confluence of two trading setups. The first setup was the “ Volume accumulation setup ” and the second one was “ Resistance becoming a support ” setup. As you can see from the picture below, there were pretty heavy volumes accumulated before the start of strong buying activity (uptrend). This usually means that those volumes were volumes of strong buyers who were entering their positions there. Afterward, they pushed the price upwards aggressively. This level worked also a resistance in the past, which become a support when the price went through it. This is how the trade went There was a strong sell-off yesterday (caused by unexpected macro news) and my level was hit in the down-move. At first the price just went past it and ALMOST hit my 12 pip SL. It ...

Trading during the macroeconomic news is obviously very risky and I wouldn’t recommend it to anybody. However, there is a way how you can participate in a strong macro news. Let me demonstrate on a trade which I took with members of my course yesterday. The trade was based on my USD/JPY intraday long level (111.47) that got hit on Friday during the NFP news ( Non-Farm Employment Change). I never trade during such important news so naturally, I didn’t enter the trade. The price went past the level without any reaction and continued downwards. I marked the level and I was ready to take a reversal from this area. I did this on Monday when the price finally retraced back to the level. Check how the trade went on the picture below: Another trade I took was a short on the EUR/USD from 1.1562. This level was based on the “ Volume accumulation setup ” and also on “ Support becoming a resistance ” setup. It is the combination of different setups that makes the strongest trading levels. C...

All my trading levels are based mainly on volume-based strategies . However, when I do my analysis I also look for Price Action strategies that would confirm my volume-based levels. The more confluences with other strategies I find the better. One of my most favorite Price Action strategies goes like this: Support becoming resistance (and vice versa) This Price Action strategy works very nicely even as a standalone strategy. I usually spot it in the charts every day, so there are quite a lot of trading opportunities with this one. The setup works both ways – support becoming a resistance and also resistance becoming a support. Here is how to spot it and how to trade it: To identify this setup, you first need to see the price strongly reacting or jumping away from some area in the chart. This strong reaction indicates that there was strong support or resistance in the area. One big reaction is enough but two or more strong reactions are even better. This way you can be s...

Trade Ideas, Setups, Chart Analysis – 6th August 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 new book: VOLUME PROFILE: The insider’s guide to trading SWING TRADES All presented swing trade charts are Daily charts (Daily candles) if not stated otherwise. NZD/CAD short from 0.8880 area There are three things I like about this short level. The first one is that there is pretty strong downtrend on the NZD/CAD right now. Trading in the direction of a trend is always better. Secondly, there was my “ Trend setup ” created within the trend. The Trend setup clearly shows where the sellers were adding to their positions. It was around 0.8880. From this area, they pushed the price lower. When the price makes it back there, the sellers will most likely defend their positions and the...

There is a big difference between trading as a hobby, trading part-time and trading as a pro forex trader. If you want to trade for a living then you need to do certain things that will get you there. It is not easy and there is not that many of us that actually make it. Here are 10 things/steps that you will need when becoming a pro forex trader. 1. Love trading You need to love what you do. This is the only way how you can fully dedicate yourself to it and how you can really achieve something significant. You need the passion that will drive you forward when you will be doing backtesting, optimizing or building your strategy. This is really hard work which you need to love otherwise, you just wouldn’t be able to do it . In trading, there is a ton of work that needs to be done before you even start making any money. I personally spent years studying, testing and learning. I was doing this 10-15 hour EVERY DAY. I was doing this for free because I loved trading and I wanted to trad...

*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 Th...