🎯 Top Volume Profile Levels to Trade This Week on ES, EUR/USD and USD/CAD

Hello everyone, it’s Dale here. Welcome to the new weekly trading ideas video. Today, we are going to cover three trading ideas. The first one will be on the ES, then we will cover the EUR/USD, and finally, we will go over a trading idea on the USD/CAD.

Before that, I want to do a little recap of the trades and predictions from the previous weekly trading ideas video. What you see on your screen here is the TradingView website, where I publish the trading ideas. These three are the ones from the previous week, so let’s check them out one by one and see how they played out.

The first one was on the USD/CAD. We had a resistance here. This resistance still hasn’t been hit—as you can see, it’s still untested. So this is still a viable trade to take. We just need to wait for that pullback and then go short from there.

Now the next one—that’s USD/JPY. This is actually a trade I took earlier today. Let me load a couple of bars here so we can see the outcome. This was the level—this support was based on the heavy volumes right here. This was the reaction. I took a profit here earlier today. Good trade, by the way. The stop-loss was below the wick of this candle, so the price missed that, and then it went into full profit. So that’s good.

The next one is on the ES. This was a beautiful trade based on this support, which was based on the fair value gap and the volumes before the gap. If I zoom out a bit, you can see it played out. This was the support, and this was the reaction. Super quick trade. So, there were two winners, and one level is still viable to trade because it hasn’t been tested yet.

That’s it for the past trades. Let’s now move on to the new trading ideas. But before that, just a quick note: if you guys are interested in trading with me and other prop traders in a live trading room, then I recommend going to my website, Trader-Dale.com. If you click the button labeled “FTA” it will take you straight to a page where you can sign up with us.

The reason I’m saying this is that currently we’re running a 10% discount on the Funded Trader Academy. The sale is ending today. So, if you want to join us, then book a call here—there’s a one-on-one call you can book using this calendar. We’ll walk you through the service, show you around, and then you can decide whether or not this is right for you. Don’t forget—the 10% discount sale is ending today.

Anyway, that’s about that. Let’s now go to the charts and talk about the trading ideas. What you see before you is NinjaTrader, a platform, and the chart is the ES on a 30-minute timeframe. In here, there are two new resistances—this one at 5619 and this one at 5651. Both of these are based on the strong sell-off which took place on Friday and the heavy volumes that got traded during that sell-off. By that, I mean these heavy volumes—those were sellers adding to their short positions as the price dropped. As you can see, my levels are at the beginnings of those heavy volume zones. These are places where the price is likely to turn.

If there’s a pullback, chances are that the sellers will want to defend this area—which is clearly important for them—and push the price downward from there. An ideal scenario would be another pullback like this and another reaction from the level a bit higher.

Now, for the lower level, there aren’t really any confluences—only the fair value gap. Obviously, there’s a fair value gap, which comes from Smart Money Concepts, and that adds strength to the level. But for the higher level, there’s even better confluence, I would say. The thing is, there was this beautiful low, which means it was a support in the past, because the price reacted to this level nicely. So this was a support, and when the price broke past it, it turned into a resistance. At the same time, you can see that it’s at the beginning of the heavy volume zone. That’s a beautiful confluence—my favorite trading combo, actually. So yeah, I’m definitely looking forward to trading this one.

Right now, we just wait. I’ll place limit orders there so I don’t miss the trades—jump into a short from here, and then another short from here. That’s for the ES. This setup is called the trend setup. I like to trade it when there’s a trend like this one.

Let’s go to the next one. The next one is on the euro. What you see before you is a 30-minute chart of EUR/USD. The level I want to talk about is a support here at 1.0774. This support is based on a heavy volume zone—this one—and strong buying activity after this zone formed. This tells me that buyers were building long positions here and then pushed the price aggressively upward. That’s a place I like to trade from. I like to trade from the beginning of the strong buying activity, which is marked by the beginning of the fair value gap. This whole green area is the fair value gap. My level is at the beginning of that gap, right here. That’s how I like to place my levels.

If you look at the heavy volume zone more closely, you can see there are actually two smaller heavy volume zones—this one and this one. I chose to trade from the beginning of this one because it is the beginning of the fair value gap. That’s the reason the level is where it is.

So now, we just need to wait. If the price comes back to this level, we take it from there. That’s for the euro.

Now let’s move to the next trading idea, which is on the USD/CAD. What you see here is a 30-minute chart. What I want to point out is this downtrend turning into an uptrend. The place where the trend changed was here—this point. If you look into the volume distribution in this area, you can see there were some pretty heavy volumes. These heavy volumes are also visible on the weekly volume profile right here.

Sellers were pushing the price downwards. Then buyers started buying aggressively here—buying everything the sellers had to offer—and eventually pushed the price up into this new uptrend. This heavy volume zone is a very important area because it’s where the trend changed and where heavy volumes were traded.

This is the level I like to trade from—a support at 1.4252. When the price comes to that level, I think there will be a nice reaction, as the buyers from here will want to defend this place, which is clearly important to them. The level is set exactly here because there’s a little fair value gap. This is also the beginning of the buying activity and, more or less, the beginning of the heavy volume zone. That’s why the level is exactly where it is.

So now, we just need to wait for a pullback and then take it from there.

That’s about it, guys. I hope you enjoyed the video and found it useful. If you’d like to learn more about Volume Profile trading or get your hands on my custom-made indicators, then go to my website. If you’re not interested in the daily live trading room (which is the FTA I already showed you), but you want the self-study courses and indicators, then go to the “Trading Course and Tools” section. On that page, you can browse my trading education and custom-made trading indicators. You can get them separately, or if you scroll down a bit, there’s a combo pack where you can get them all in one discounted bundle.

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

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

That’s about it. Thanks for watching the video, and I’ll be looking forward to seeing you next time. Until then—happy trading!