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Video Transcript:
Hello
everyone, it’s Dale here with a new weekly trading ideas video. Today we are
going to look at the EUR/USD, then the AUD/USD, and finally the USD/CAD.
Before that, just a very quick note about a back-to-school sale which I’m
currently running on my website. If you look here, this is my website, trader-dale.com. And if you click this
button, “Trading
Course and Tools” it will take you to the page where you can get the
back-to-school discount. It’s valid until Friday, the 5th. If you scroll down a
bit, you can get the Volume Profile Pack, the Order Flow Pack, the VWAP Pack,
and the Smart Money Pack at a discounted price. You can buy them separately, or
scroll further down and get a bundle of all four packs together for only $697.
This offer is valid until the end of the week.
All
right, now let’s go to the charts. What you see before you is the EUR/USD
30-minute chart on the NinjaTrader 8 platform, where I’m using my custom-made
Volume Profile and VWAP indicators. On this chart, I want to show you two
strong support levels I’m planning to trade. The higher one is at 1.1664
and the lower one is at 1.1644. Let me explain the reasoning behind
them. Starting with 1.1664, you can see a strong rejection of lower
prices here: the market first moved downwards and then aggressively upwards.
That’s a clear rejection of lower prices. Within this rejection, heavy volumes
were traded, as shown on the Volume Profile. This tells us buyers were active
here, placing most of their long positions before pushing the price up. This
makes the level important. It’s also the heaviest volume peak in this cluster,
confirming its strength. Another factor adding to its strength is that this whole
area was a massive volume zone in the past. So, if there’s a pullback, it’s
likely buyers will defend this level again. That’s why I want to go long here.
The
second level is at 1.1644. This heavy volume zone tells us that buyers
were active in the uptrend, pausing here to accumulate more longs before
pushing the price higher. So, this is another important zone. If the price
pulls back, I expect a reaction here as well. My ideal scenario would be a
pullback to the first level with a reaction, and then another pullback to the
second level with a reaction. Those are my plans on the EUR/USD.
Now
let’s switch over to the AUD/USD. This is also a 30-minute chart, and we
have similar setups here because the price is trending like on the euro. Using
the Volume Profile highlights significant levels. The first long setup is at 0.6531.
You can see why: there’s a clear rejection of lower prices, just like on the
euro. Within that rejection, a very strong volume zone formed. Buyers stepped
in here and pushed the price up again. This level is also the beginning of a Fair
Value Gap, which my software automatically highlights. So, we have both a
heavy volume zone and a Fair Value Gap aligning here, making it a perfect spot
for a long trade if we get a pullback.
The
second level is at 0.6515, based on another heavy volume zone. Again, in
this uptrend, buyers paused here, added to their positions, and then pushed the
price higher. If the price pulls back, buyers should defend this area and push
it up again. That’s the battle plan for AUD/USD.
Finally,
let’s check out the USD/CAD. On this 30-minute chart, the price action
shows a strong rejection of higher prices. Buyers tried to push the market up,
but sellers stepped in aggressively and drove it down. When there’s a rejection
like this, I want to see heavy volumes near where the turn happened, because
that shows where sellers entered. The level I’ve marked is 1.3766, at
the beginning of a volume cluster and a bearish Fair Value Gap. These align
perfectly, so if there’s a pullback, sellers are likely to defend this zone,
and the price should go down from here.
One
more thing: take a look at this weak low. Buyers didn’t step in aggressively,
and the reaction was small and shallow. Markets like to test below such areas.
So, my ideal scenario would be for the price to hit the resistance at 1.3766
and then go for that weak low.
Before
I wrap up, I’d like to announce the winner of the contest from last week. The
prize was my custom-made Volume Profile and VWAP indicators for TradingView.
The winner’s name is now on your screen—congratulations! For next week, I’ll
run another contest. To participate, just leave a comment below this video on
YouTube, and I’ll randomly pick one person to win the set of custom-made
indicators.
That’s
it for today. Thanks for watching, and I look forward to seeing you next time.
Until then, happy trading.
