🎯 Top Volume Profile Levels to Trade This Week on ES, NQ & GBP/USD

Hello everyone, it’s Dale here with a new weekly trading ideas video. Today, we’ll talk about the ES, the NQ and then the GBP/USD. I’ll show you my favorite trading setup when the market opens with a gap. But before we get started, just a very, very quick note: currently, I’m running a sale on my best educational and indicator packs on my website. If you go to trader-dale.com and click “Trading Course and Tools” then in here, until the end of the month, you can get a discounted Volume Profile Pack, Order Flow Pack, VWAP Pack, and the Smart Money Pack. You can get them separately in here or scroll down a bit and get all four packs together for just $697—this offer is valid until the end of the month.

All right, so let’s now check out the charts. What you see before you is the NinjaTrader 8 platform with my custom-made Volume Profile and VWAP indicators. The chart here is the ES 30-minute chart. As you can see, the market opened with a gap—this one right here. When the market opens with a gap, what I want to see is a heavy volume zone before the gap gets formed. For that, I use my Flexible Volume Profile like this. I’m interested only in this part of the chart—the part before the gap—and I want to see heavy volumes here.

What very often happens is that the market closes the gap, and when the gap is filled, the market tends to react to the first heavy volume zone that lies behind the gap, which is this zone—especially the beginning of that heavy volume zone, which is right here. That’s why my level lies exactly at 6429.5. When the price reaches this place—if it reaches this place, and I think it will because gaps tend to get closed—then there’s a high chance that there will be a reaction, as the buyers who placed those volumes here will want to defend this area, this heavy volume zone, where they were previously interested in trading. They should push the price upward from there again.

All right, so that’s the logic behind this setup. This is how I trade it. Currently, I’m just waiting for this pullback, and when the ES hits this level, I’ll be waiting with a pending order and will go long from there.

Now, let me go to the NQ. The NQ correlates with the ES quite heavily, so it’s no surprise that there’s also an opening gap here. You’re looking at the NQ 30-minute chart, and again, we have this opening gap. I look into this zone with a Flexible Volume Profile, and this is what I’m interested in: heavy volumes formed before the gap. What I want to see is the price closing the gap—which is frankly quite likely to happen—and then reacting to the beginning of that heavy volume zone. So it’s likely that something like this will happen here because buyers should react to this heavy volume zone and push the price upwards from there again.

Now, in this case, there’s also a nice confluence with another trading setup that I like to trade. If you look here, the price made a pretty nice reaction to this zone in the past—not exactly to the level I have marked here but to this general area—which means it was a strong resistance. Now the price has broken above that resistance, which means that the resistance has turned into support. This is a price action setup confirming the Volume Profile setup I just showed you. So again, very similarly to the ES, I’m waiting for the pullback, and when the price hits this level, I’ll go long from there.

Now, let me go to the GBP/USD. What I want to show you here is a setup I like to trade when the price is trending. I call this setup the “Trend Setup.” It’s also a Volume Profile setup and goes like this: you need to see a trend first—like this one. By the way, this is a 30-minute chart of the GBP/USD. You need to see that trend. Then, within the trend, you want to see significant volume zones—like this one, this one, or this one. The price tends to make pullbacks to them and react to them.

So, what I want to do is: if there’s a pullback to that first heavy volume zone here, then I’ll go short from there. The level is 1.3487. Then there’s the higher level—this one—at 1.3540. Again, the ideal scenario would be a pullback to this level and then go short from there, because the sellers who were adding to their short positions as they pushed the price downward were active at this place, and also here. They should defend those areas, which is why there should be reactions.

All right, so those are the two levels from which I’ll want to trade. As you can see, there’s also another volume cluster—this one—but it has already been used with a little pullback. Let me show you. If I display it like this, I think it’s better visible. The price made a pullback to this heavy volume cluster and then reacted here. So this volume cluster is spent. But this one hasn’t been tested yet, and also this one hasn’t been tested yet. The price hasn’t made a pullback to those levels yet, so they are still valid—still good to go, still good to trade.

All right. What we need to see now is just pullbacks to those levels and then short from those. A very similar scenario happened a couple of days ago when the price was going up in here and reacting to those heavy volume zones. There was a heavy volume zone in here—the price made a small pullback to it and then reacted. Then there was also a heavy volume zone in here, and there was a reaction—not too huge, but let me show you. It was around 16 pips, so not too bad either.

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

What I’ll do next is run another contest for next week. The only thing you need to do to participate in this contest 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. And until then—happy trading!