ES (S&P 500 Futures): Volume Profile & VWAP Analysis

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Video Transcript:

Hello, everyone. It’s Dale here with a new day trading analysis. What you see before you is NinjaTrader 8 with my custom Volume Profile and VWAP indicators. Today, I’d like to talk about the ES, which is the futures for the S&P 500 Index

So, this is the ES 30-minute chart, and I would like to show you two supports that formed yesterday. The first one is here at 5449, and the second one is here at 5438. Let’s start with the first one. This support is based on the strong buying activity that occurred yesterday. If you use the Volume Profile over that trend area, it shows a nice heavy volume zone here. Those heavy volumes are most likely buyers who were pushing the price up, adding to their volumes as they passed this area of highs. The price then continued upwards, but this zone is still important as buyers were very active here. For that reason, I’m looking to go long from there in case there’s a pullback. If there’s a pullback, chances are that those buyers will become active again and push the price upwards from there.

This support is not only based on this volume cluster but also on past price reactions in this general area. It worked as a resistance in the past, and that resistance turned into support when the price broke through. So, this new support is based on both price action and the Volume Profile setup, making it a two-setup combo pointing to this support. Now, we just need to wait for a pullback, and if it occurs, we’ll take it from there.

The second support is based on a Volume Profile setup, which I call the Volume Accumulation Setup. With this setup, you want to see a rotation where heavy volumes are accumulated, like
this one here. As you can see on the Volume Profile, heavy volumes were accumulated here. From there, there was strong buying activity, meaning buyers were building up long positions and then manipulated the price to move upwards. In an ideal case, there would be a pullback to the first support, a reaction, and then another pullback to the second support, and another reaction from there, as the buyers from here are likely to defend their long positions and push the price upwards again.

So, we need to wait for those pullbacks. When the price reaches those levels, we can either open up the order flow software to wait for a confirmation before jumping into the trade, or we
can jump into the trade right away as the price touches the level. Obviously, with order flow, you’ll have better trade entries and exits, but if you don’t have it, you can just jump into the trade because chances are there will be reactions at both levels.

Here’s one more thing I wanted to show you since I had a VWAP webinar last week. Let me show you some of the stuff I presented at the webinar. You can see a very significant swing point here. At the webinar, I mentioned that you should anchor VWAP to a significant swing point. So, let me anchor the VWAP to this candle, which created the low of this swing low. This is the swing low where I anchored the VWAP, and here you can see a beautiful pullback to that anchored VWAP and a long from there.

This is how the setup I showed at the webinar should look if you guys are trading it. You would have had a very nice trade from here. If you are interested in learning more about VWAP or Volume Profile, head over to my website at & click on “Trading Course and Tools” and it will take you to this page. Currently, I’m running a special sale on my newly released VWAP pack. The VWAP pack includes 31 videos, my custom VWAP indicators for various trading platforms, and my custom Volume Profile indicators. There’s a video on the page that shows everything included in the pack in more detail.

If you are interested in getting all my packs—the Volume Profile pack, the Order Flow pack, and the VWAP pack—all together in one discounted bundle, you can scroll down a bit. Until this Friday, you can get them at a discounted price.

Alright, that’s about it. Thanks for watching the video, and I’m looking forward to seeing you next time. Until then, happy trading!

4 thoughts on “ES (S&P 500 Futures): Volume Profile & VWAP Analysis”


    I noticed the Second proposed entry below the first also had a confluence with yesterday’s POC. Great videos Dale. I learn a whole lot from you.
    One question though, where does Volume at Time come in all of this, do you look at those at all?

  2. Hi Dale! Nice teaching video. Analysis of the ES is helpful because ES is hitting new highs the VWAP Analysis is critical. Thanks for the free resources on your website.
    I am watching ES and getting on the right side using VWAP analysis.

  3. Dale – you show a chart of the ES June contract. That expired last Friday – correct? Shouldn’t you be on the Sept 24 contract?

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