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

Hello everyone, it’s Dale here. Welcome to the new weekly trading ideas video. Today we are going to cover the GBP/USD and also some crosses. The reason for focusing on the crosses is that the major forex pairs are currently not too volatile, but we can still find some nice trading opportunities on the crosses. So today we are going to cover the EUR/CHF and also the EUR/GBP. Let’s check the trading ideas out.

What you see before you is the GBP/USD. It is a 30-minute chart, my favorite time frame for intraday trading analysis. In here, I want to talk about a newly formed resistance. The resistance formed yesterday, and it is located at 1.3471.

The main reason behind this resistance is a Volume Profile setup, and it goes like this: If you look at the volume distribution here, you can see that there was a heavy volume zone followed by a strong sell-off. This is a sign that sellers were accumulating their short positions in this rotation, and then they pushed the price aggressively downwards. The level I have marked is at the beginning of this heavy volume zone. In my experience, the price tends to react to the beginning of such a heavy volume zone. So, when there’s a pullback to that area, chances are the sellers will want to defend it and push the price downwards again.

Additionally, there’s also a price action setup supporting this level. If you look here, the price reacted nicely to this level in the past, meaning it worked as support. The price was bouncing off it, also in this area. Now that the price broke below the support, it has turned into a resistance. This adds strength to our Volume Profile setup. Both setups point to the same level, suggesting that this should work as a strong resistance. What we need to do now is just wait for the pullback and take it from there.

Now let’s move on to the next trading idea, which is on the EUR/CHF. This is again a 30-minute chart, which, as I mentioned, is my favorite for intraday trading analysis. Here we have a beautiful example of a Volume Profile setup, which I call the Volume Accumulation Setup. It goes like this: First, you need to see a rotation, and that rotation needs to be followed by strong trend activity—like this one. There also need to be heavy volumes within the rotation. If you use the Volume Profile like I’ve done here, you’ll see that the heavy volumes are really significant and point to the place where sellers were active and accumulating short positions. Afterwards, they manipulated the price and pushed it downwards.

The level I have here is at the beginning of that heavy volume zone—at 0.9350. If there’s a pullback to this level in the future, chances are there will be a reaction. So, what we need to do now is just wait for the pullback and, if it occurs, take it from there.

Let’s now check out the next trading idea, which is on the EUR/GBP. The level I have here formed just recently and is based on a Volume Profile setup I call the Trend Setup. If you see a strong trend—like this one—you want to look for significant volumes within that trend. It’s best to use the Flexible Volume Profile, which you can move around and use to select specific areas in the chart, like I’ve done here. In this case, you can see a significant volume zone within the trend. This is where the buyers who were pushing the price upwards were active. If there’s a pullback to the beginning of this heavy volume zone, chances are there will be a reaction, as those buyers will likely want to defend the area where they placed a lot of orders.

There’s also a nice confluence with a price action setup, which adds strength to this Volume Profile level. In the past, the price reacted to this level, so it used to act as a resistance. Then the price broke above the resistance, turning it into a newly formed support. So this is the same setup I showed you earlier—just reversed. And again, it supports the heavy volume cluster and the level based on it. If the price pulls back to the beginning of the heavy volume zone, to the level at 0.8668, chances are there will be a reaction as the buyers try to defend it.

Now, if you’re interested in learning more about Volume Profile trading, head over to my website: traderdale.com. If you click the button labeled “Trading Course and Tools” it will take you to the relevant page. I’m currently running a special sale, which means you can get my trading education and indicators at a discounted price. You can purchase them separately—there’s the Volume Profile Pack, the Order Flow Pack, VWAP Pack, and Smart Money Pack—or you can get them all together in one discounted bundle. All the packs together are available for $697.

Before I wrap up the video, I’d like to announce the winner of the contest we held last time. The prize was my custom-made Volume Profile and VWAP indicators for the TradingView platform. The name of the winner is now displayed on your screen—congratulations!

I’ll be doing another contest for next week. To participate, all you need to do 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.

Thanks for watching, and I look forward to seeing you next time. Until then, happy trading!