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

Hello everyone, it’s Dale here with a new weekly trading ideas video. What you see before you is the NinjaTrader platform with my custom-made Volume Profile and VWAP indicators. This is the EUR/USD chart, and let’s focus on the levels here.

First, on the EUR/USD, let’s start with this resistance level at 1.0370. This one is based on a broader scope because it is derived from a weekly Volume Profile. If you look at this Volume Profile right here, it represents the weekly Volume Profile from the previous week, showing how volumes were distributed throughout the entire week. The weekly point of control is the price level where the highest volumes were traded over the week. From this weekly point of control, the price moved into strong selling activity, indicating that sellers were actively building up short positions around this level before pushing the price down.

Now, when there’s a pullback to this level, I expect a reaction. This level is not just about the weekly point of control—if you look at the volume distribution from Friday alone, you can see a heavy volume zone from which this strong selling activity started. This tells me that sellers were active here and should defend this area. This is the beginning of that heavy volume zone. What we need to do now is wait for a pullback and take the trade from there.

Maybe you’ve noticed that there’s also a fair value gap here, highlighted in red. This is from Smart Money Concepts, and it’s a setup I like to combine with heavy volume zones.

Now, for a long setup on EUR/USD, I had a level based on a strong rejection of low prices and a volume cluster that formed within the rejection. Unfortunately, the price turned just before the level, so while there was a nice reaction, the level is no longer valid. I just wanted to show how this rejection setup works and how the price reacted to it.

Another setup—perhaps you remember from last week—is the opening gap setup. When there’s an opening gap with a heavy volume zone behind it, the price tends to react. There was a nice reaction here, so this level is now spent. However, it’s a great example of this setup working well.

This setup also formed on USD/CAD. Let me show you. In this case, the gap hasn’t been closed yet. This is a 30-minute chart of USD/CAD, and the setup is still valid. There’s a gap with a heavy volume zone behind it, meaning there’s a high probability of a pullback, a gap fill, and a reaction from the heavy volume zone, sending the price higher.

However, this trade looks a bit riskier to me. Let me zoom in and show you why. The reason is that this is a weak low, and price often likes to test weak lows. If there had been a sharp rejection, like this, it wouldn’t be considered a weak low. But here, this is a weak low, and another one is visible as well. Often, liquidity sits below weak lows, and price tends to test these areas.

The risk here is that if there’s a pullback, the price might not react to the heavy volume zone but instead push below the weak low to seek liquidity. If that happens, it would result in a losing trade if we went long from here. That’s why I’m saying this long setup, while historically performing well, is a bit risky in this case.

Now, let’s move on to NQ (Nasdaq 100 Futures). There are two short levels, and both are quite close to each other, so let me discuss them.

The first short level is at 12.865, based on heavy volumes formed in this rotation before a strong sell-off. This tells me that sellers were actively building short positions here before aggressively pushing the price downward. When there’s a pullback, these sellers should become active again and push the price lower.

This level also aligns with a fair value gap, highlighted in red. I prefer trading from the beginning of the fair value gap, which reinforces this short setup. Now, all we need to do is wait and, if the price reaches this level, go short.

The second short level is at 12.930. If you look at the Volume Profile, you’ll see a strong volume cluster, which formed as price rejected higher levels and entered a sell-off. This volume cluster represents sellers rejecting higher prices and aggressively selling. The highest peak of this heavy volume zone aligns with the beginning of the fair value gap, reinforcing this level as a strong resistance.

In an ideal scenario, the price will pull back, react to the first resistance, then pull back further to the second resistance and react again.

Now, let’s move on to the next trading idea. But before that, just a quick note about a sale I’m running.

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• The Volume Profile Pack focuses on Volume Profile trading.
• The Order Flow Pack teaches everything about day trading with Order Flow.
• The VWAP Pack focuses on VWAP trading.

All of these are discounted until Friday, the 14th. If you want to get all three packs together, there’s a special deal where you can get them for just $597 until the end of this week.

Now, back to the charts. Let’s talk about EUR/AUD.

This is a 30-minute chart of EUR/AUD. The price has been moving slowly and shyly downward, and when price action is like this, I don’t trade. I prefer to see aggressive buyers or sellers in the market.

Where I do see aggressivity is in this strong rejection of higher prices. This signals aggressive sellers, as buyers initially pushed the price up, but sellers stepped in and aggressively sold, rejecting higher prices and driving the market lower.

If I apply a flexible Volume Profile to this rejection zone, you can see how the volumes were distributed. A significant volume cluster formed right before the price reversed, which is very similar to the NQ setup.

Let me show you NQ again—this significant rejection with heavy volumes is the same type of setup. This tells us about aggressive sellers who were active here, and the beginning of this heavy volume zone is the key level.

When the price makes a pullback, there’s a strong chance of a reaction, as the sellers from this zone should defend their positions and push the price down again. This level is at 1.1675, and now we just wait for the pullback and trade from there.

Before I wrap up the video, I’d like to announce the winner of last week’s contest. The prize was my custom-made Volume Profile and VWAP indicators for TradingView, and right now, on your screen, you see the name of the winner.

Congratulations!

I’m also running another contest for next week. To participate, just leave a comment below this video on YouTube, and next week, I’ll randomly select one person to win this set of indicators.

That’s it for today’s video. Thanks for watching, and I’ll see you next time. Happy trading!