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

Hey everyone, it’s Dale here, and today I want to show you the strongest Volume Profile levels to trade this week. We are going to look at a couple of levels on EUR/USD, then USD/JPY, and then USD/CHF. So, let’s get to it.

What you see before you is the EUR/USD chart, and it is a 30-minute time frame. The platform is NinjaTrader 8 with my custom-made Volume Profile and VWAP indicators. The level that I want to talk about here is a resistance which formed on Thursday. This is the resistance, and it is at 1.157. Now, the reasoning behind this resistance is a heavy volume zone which formed as the price was dropping in this downtrend. This is the heavy volume zone that I’m talking about. Well, maybe I might as well use the profile like this, so you can see only the volumes in this area, which is where this resistance is based.

Anyway, what you can see here is a heavy volume zone which formed in this little rotation, and then the sell-off continued. This sell-off continued with a couple of fair value gaps. You can see a small fair value gap here, and then this is followed by a bigger fair value gap here. Those are from Smart Money Concepts, and when they are like this, I like to trade from the beginning of the first fair value gap, like this, right? And behind the fair value gaps, we have that heavy volume zone. So, that’s why I think this is a strong level to trade from, especially because of the volumes, which represent sellers who were adding to their short positions there as the price was dropping.

So, that’s what I want to trade. I want to wait for a pullback to this level, and when the price reaches it, then go short from there. Chances are that the sellers from here will want to defend this place, right? So, that’s it for that level on EUR/USD, and let’s now take a peek at USD/JPY.

Here, I have two levels that I want to talk about. Again, we are looking at the 30-minute chart of USD/JPY, and the first level formed earlier today. It is a support at 161.28. Let me show you on the Volume Profile. Let me draw it like this so it covers this whole area. And as you can see, in this area, heavy volumes were traded, right? Because the price was trading higher and higher, and it was in an uptrend. Those are likely to be buyers adding to their long positions, right? And then this week opened with an open drive. Boom. Buyers pushed the price higher and higher. So, this heavy volume zone should represent a place where buyers were active. And if the price makes a pullback there at some point in the future, those buyers should defend this place and push the price upwards from there again.

All right. So, that’s the volume cluster within this part of the uptrend. Let me move the profile now and focus on the second support, which is this one. It is at 160.90, and this one is also based on a heavy volume cluster formed within a trend. So, the logic is the same. Buyers who were pushing the price upwards were adding to their long positions here. And when the price makes a pullback, if it makes a pullback, then those buyers should become active again and push the price upwards from this place again.

Now, an additional thing that adds strength to this level is that there is a bullish fair value gap here. And when we have a bullish fair value gap, then that means that it begins here. By the way, the same thing was with this support, right? There was also a fair value gap. In this case, it was beginning here. This was the fair value gap. As you can see, it almost aligns with our level. That’s what I always like to see, right? Heavy volumes and fair value gaps together. Those make very nice combos and strong levels to trade from.

All right. So, that’s it for USD/JPY. Now, what I want to talk about next is USD/CHF. You are looking at the 30-minute chart of USD/CHF here. And what I want to start with is looking at the weekly Volume Profile. That means how the volumes were distributed throughout the whole previous week. That’s the gray profile on the left, and it shows that the heaviest volumes were traded here. That’s the weekly point of control.

From there, very, very aggressive buying took place, starting with a fair value gap here. See, this fair value gap begins at this place, which, as you can see, is exactly where I have the level. It is at 0.7933. And what this is basically telling us is that, throughout the whole previous week, the heaviest volumes were traded here. The price went upwards from there. It was probably buyers who were getting ready for this move and accumulating their longs, and afterwards, they pushed the price upwards in this uptrend, right?

So, we have a very strong zone, possibly the strongest zone from the previous week, with an uptrend starting from there. So, when there is a pullback, and it doesn’t really matter if it is not today, tomorrow, or even this week, but when there is a pullback to this level, there is a chance that buyers from here, from this rotation, will become active again and push the price upwards from there again, right? Because we have that weekly point of control there, just by itself, this is a very, very strong level to trade from.

All right. Now, if you guys are interested in learning more about Volume Profile trading, I recommend heading over to my website. It is at trader-dale.com. And if you click this button which says Trading Courses and Tools, it will bring you to a page where you can browse my trading education and custom-made trading indicators.

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, 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 you need to do to participate in this contest is leave a comment below this video, which I’ll publish on YouTube, and next week, I’ll randomly pick one person to win this set of custom-made indicators.

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