🎯 Top Volume Profile Levels to Trade This Week on AUD/USD, USD/JPY & USD/CHF

Hey everyone. Dale couldn’t make it today, so it will be me doing the weekly trading ideas video. First off, before we look at the charts, let me wish you a happy Halloween. And just a quick note about the sale that Dale is running on his website. If you go to trader-dale.com and click the Trading Course & Tools button, then until the end of the month, you can get a special Halloween discount on the best educational and indicator packs. You can see them here. You can get them separately, or scroll down a bit and you can get all of them for a discounted price. All four packs together. All right, so let’s now check out the charts, shall we?

Today we are going to look at three trading ideas. The first will be on AUD/USD. What you see before you is the AUD/USD 30-minute chart. The platform is NinjaTrader 8 with my custom-made Volume Profile and VWAP indicators. The level that I want to talk about is a support which formed right here. The reason behind this support is my favorite setup. This setup needs to have an opening gap like this, and behind the gap, there needs to be a heavy volume zone like this one. This doesn’t occur that often on Forex, but since Trump is the president, this happens more often than before. What you do when you see this is you wait for the pullback. The gap needs to get filled, and then the price hits that heavy volume zone and goes up from there. Usually it does. This setup has a very, very high win rate. So first we need the gap, then we need the heavy volume zone, and the price often closes the gap rather sooner than later, reacts to the heavy volume zone, and should look like this. So that’s what I plan to do on AUD/USD. Right now, I’m just waiting for that pullback, and when it occurs, I’m going to go long. I expect this to be sooner rather than later. All right, so that’s the setup on AUD/USD. Let’s now check out the next trading idea.

The next one will be on USD/JPY. This is a 30-minute chart of USD/JPY. What I want to show you here is a support right here. This support is based on this massive heavy volume zone at the start of this uptrend. As you can see, rather heavy volumes were accumulated here before the uptrend started. If there’s a pullback to it, it’s very likely that the price will react to this heavy volume zone because what the heavy volume zone represents here are buyers who accumulated their long positions here and afterwards pushed the price even higher. So those buyers should be active again when the price retraces back to this level, and that is why the price should react there. What also adds strength to that level is that there is a Fair Value Gap here, highlighted in green, and the level is at the beginning of it. I like to trade from the beginning of Fair Value Gaps, especially when it aligns with a heavy volume zone like this. Right now, I’m waiting for that pullback. The price is currently a bit far from the level, but I don’t really mind waiting. When the price hits that level — could be this week, next week, in a month — I don’t really care, but I’ll go long from there.

By the way, there was a nice level here on USD/JPY — this little volume cluster. Beautiful reaction to it. Unfortunately, this happened during macro news — this was the CPI news on Friday — so I wasn’t able to trade this because of the news. I’m not trading during the news. But it was a good level to trade from — if only it wasn’t hit during the macro news. The reason is that there was that favorite combo of mine: a trend, a heavy volume zone within the trend, and also, if you look here, the price reacted here before. That means it was a resistance that turned into support when the price went past that resistance. Nice combo, nice reaction to it. Unfortunately, it got hit during macro news. All right, so that’s for USD/JPY.

Let’s now take a look at USD/CHF. What you see before you is USD/CHF, and it is a 30-minute chart. What I want to show you here is this support. The support is based on a setup which is called the Rejection Setup. In here, we have a strong rejection of lower prices. The price went downwards, then suddenly changed and went up. When you see a strong significant rejection like this, then you want to look into the volumes within the rejection and see how the volumes are distributed. You want to see a significant volume cluster like this one. This volume cluster is telling you that this is a place where buyers started to jump in and reversed the price. Because of those buyers, the price reversed. So this is the most important place within that rejection. That’s why I have the level here at the beginning of that heavy volume zone. Right now, I’m waiting for the pullback, and if it occurs, then I’m going to go long from there. The buyers from here are likely to become active again and defend this place, which is clearly important for them because it was important in the past as well. So I am waiting for the pullback here, and then I’ll go long from there.

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. What I’ll do next is another contest for next week. The only thing that 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. So that’s about that. Thanks for watching the video, and I’ll be looking forward to seeing you next time. Until then, happy trading.