🎯 Top Volume Profile Levels to Trade This Week on ES, NQ, JPY

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-made Volume Profile and VWAP indicators. The symbol you’re looking at is the ES, which represents futures for the S&P 500. This is a 30-minute chart, and I want to discuss two trading levels: one support level here and one resistance level here.

Let’s start with the support. The support is based on a heavy volume zone formed during this rejection of lower prices. This rejection, and especially the very strong buying activity that followed, suggests that buyers were active here. They rejected lower prices in this area, placing most of their volumes right here. This is the level that interests me because it’s where the buyers were most active before the price was rejected. If the price returns to this level in the future, it’s likely that these buyers will defend this place and push the price upwards again. You can also notice a small Fair Value Gap here, a concept from Smart Money Concepts. I like to trade from the beginning of the Fair Value Gap, which aligns nicely with the heavy volume zone. The support level is at 5888.

Now let’s discuss the resistance. If you look at the weekly profile from the previous week (the gray profile on the left), you’ll see the heaviest volumes are here. This is the weekly Point of Control, which indicates the area where most volumes were traded last week. As you can see, it aligns with our resistance level at 6132. The reasoning behind this level is that heavy volumes were traded here, followed by very strong selling activity. This suggests that sellers were active in this zone and pushed the price downward. If there’s a pullback, these sellers will likely become active again and push the price down from this level. Similar to the support level, there’s also a Fair Value Gap in this area. In this case, because it’s a short trade scenario, the beginning of the gap aligns with our level.

Let’s move on to the NQ. On NQ, there are two levels that are very similar. First, the weekly Point of Control from the previous week stands out. From this level, there was strong selling activity, mirroring the scenario on the ES. The level here is at 22272, which is at the beginning of a Fair Value Gap and a heavy volume zone where the heaviest volumes of the previous week were traded. This suggests that sellers were active here, and if the price returns to this zone, they will likely push it downward again.

Now for the support level, which is at 21105. This level is based on the strong rejection of lower prices and a heavy volume cluster formed during the rejection. This cluster indicates that buyers were active here, turning the selling activity into a newly formed uptrend. If there’s a pullback to this level, I expect buyers to defend it, causing the price to go upwards again. This setup is called the Rejection Setup, and it works when a significant volume cluster is present within the rejection area. For example, on crude oil, there was a rejection of lower prices with a visible volume cluster, which acted as support and caused a reaction. However, not every rejection shows a strong volume cluster, and the absence of such clusters makes the setup weaker.

Now let’s look at the USD/JPY. In this pair, there’s a strong uptrend. When I see a trend like this, I look for pullbacks to heavy volume zones. Using the Volume Profile over the uptrend area, I identified two heavy volume clusters that haven’t been tested yet. The first level is at 155.34, at the beginning of a heavy volume cluster and a large Fair Value Gap. If the price pulls back, I expect a reaction here as buyers defend this place. The second level is at 154.64, also marked by a heavy volume cluster and a Fair Value Gap. Additionally, there was a reaction to this zone in the past, turning a previous resistance into support when the price broke above it. This strengthens the level as it combines multiple setups.

If you’re interested in learning more about Volume Profile trading, visit my website at Trader-Dale.com. Currently, we’re running a special Christmas sale where you can get my most popular trading packs at a massive discount. The Volume Profile Pack focuses on volume profile trading, the Order Flow Pack focuses on day trading with order flow, and for the first time, we’re offering the Smart Money Pack. This course, usually available only to members of the Funded Trader Academy, focuses on Smart Money trading and is taught by our mentor, Vic. The offer ends at the end of the year, and you can get all three packs together for just $597

Finally, I’d like to announce the winner of last week’s contest. The prize was my custom-made Volume Profile and VWAP indicators for the TradingView platform. Congratulations to the winner, whose name is now displayed on your screen. For the next contest, simply leave a comment below this video on YouTube, and I’ll randomly pick a winner next week. Thanks for watching, and I look forward to seeing you next time. Happy trading!