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

Hello everyone, it’s Dale here with a new weekly trading ideas video. What you see before you is the NinjaTrader 8 platform with my custom Volume Profile and VWAP indicators. The chart in front of you is the ES, which represents futures for the S&P 500 index. This is a 30-minute chart, and as you can see, the market opened with a significant gap right here. When there’s an opening gap like this, I use a very powerful strategy that I’d like to show you. The strategy works as follows: First, the market needs to open with a gap. Next, you need to identify a heavy volume zone that formed before the gap. Using the Volume Profile, you can analyze the trend area and look for a significant volume zone that stands out, like this one. So, again, there’s the gap, and behind that gap, there’s a heavy volume zone. This heavy volume zone should act as resistance because the zone formed with significant volume before the price jumped and moved downward. If there’s a pullback, the price often tends to close these opening gaps. When the gap gets filled, the price typically reacts to the heavy volume zone behind the gap. This is exactly what I expect to happen on the ES. All we need to do now is wait for the pullback. If it occurs, there’s a good chance there will be a reaction from that level.

Now let’s take a look at another chart. The next one is for EUR/USD. This is a 30-minute chart of EUR/USD, and here, there was also a small opening gap, though not as large as the one on ES. What I want to highlight here is the support at 1.0417. Let me use the Volume Profile to explain the reasoning behind this support. As you can see, there was a small rotation with a volume cluster, and from there, strong buying activity began. In this case, it’s not so much about the volumes but the strength of the buying activity, which signals aggressive buyers. These aggressive buyers jumped in from this volume cluster. Additionally, there’s a fair value gap here, which is a concept from Smart Money trading. I like to trade from the beginning of the fair value gap, which aligns perfectly with the level at 1.0417. This level also coincides with the start of the strong aggressive buying activity and the volume cluster. Furthermore, the weekly Volume Profile shows the weekly point of control at this level, meaning the heaviest volumes of the entire week were traded here. This adds considerable strength to the level. All these factors suggest strong support. Now we need to wait for the pullback. If the price reaches this level, it would be a good opportunity to go long.

Next, let’s move on to AUD/USD. What you see here is a 30-minute chart of AUD/USD. I already had one trade here—a long from this reaction. This trade was based on the volumes and the strong buying activity that followed. It played out nicely, but the level is now spent, so I won’t trade it again. What I want to discuss instead is the resistance level. This strategy is similar to what I showed on ES. There was an opening gap, and behind that gap, there’s a heavy volume zone. If there’s a pullback, there’s a good chance of a reaction from this heavy volume zone. The logic is the same: on forex pairs, these gaps are often filled. I’m confident this level will be tested soon, and when it is, I’ll look to go short from the beginning of the volume cluster.

Additionally, there’s a long level I’m watching at 0.6275. If you look at the weekly Volume Profile, you’ll see the weekly point of control at this level. This level is based on the weekly point of control and the strong buying activity that started from it. I expect the strong buyers who were active here throughout the previous week to defend this level and push the price upwards again, as they did previously. So, I’m currently waiting for the price to reach this level for a potential long trade.

If you’re interested in learning more about Volume Profile trading, head over to my website, Trader-Dale.com. Click the button labeled “Trading Course and Tools” which will take you to a page where you can browse my trading education and custom-made trading indicators. The Volume Profile Pack teaches everything about day trading and swing trading with Volume Profile, while the Order Flow Pack focuses on intraday trading with Order Flow. Additionally, there’s the new Smart Money Pack, which is dedicated to Smart Money trading. You can get all three packs together at a discounted price on the same page.

If you’d like to trade with me and other prop firm traders daily in a live trading room, check out the Funded Trader Academy (FTA). There’s a video on the FTA page that explains everything in more detail. If you’re interested, you can even book a one-on-one call to determine if this is the right fit for you.

Before wrapping up the video, I’d like to announce the winner of our last contest. The prize was my custom-made Volume Profile and VWAP indicators for the TradingView platform. The name of the winner is displayed on the screen now. Congratulations! For next week’s contest, you just need to leave a comment below this video, which I’ll publish on YouTube. I’ll randomly pick one person to win the indicators in the next video.

Thanks for watching, and I’ll see you next time. Until then, happy trading!