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

Hello everyone, it’s Dale here. Welcome to the new Weekly Trading Ideas video. Today, we’re going to take a look at three trading ideas. The first will be on the NQ, then we’ll take a look at EUR/USD, and finally at GBP/USD. So, let’s get to it. What you see before you is the NinjaTrader 8 platform with my custom-made Volume Profile and VWAP indicators. This is a 30-minute chart of the NQ. What I want to talk about here is a new support that formed on Friday, and that support is right here at 24,550.

If you look at the chart and the Volume Profile, you can see that it was a D-shaped Volume Profile, which means temporary balance between buyers and sellers. When there’s a D-shaped profile like this, looking like the letter D, I like to trade a rejection setup. A rejection setup is when you see a strong rejection of either higher or lower prices. In this case, this is a rejection of lower prices. Within that rejection, you want to see a significant volume cluster — you need to use the Volume Profile to see that. When you use it around the area where the rejection occurred, you want to see something like this: a significant volume cluster. In this case, it represents a place where, as sellers were pushing the price downwards, buyers started to appear. They began buying aggressively and eventually reversed the price. So, this is a strong rejection with a significant volume cluster. You want to see that and then trade from the beginning of the volume cluster.

This is the volume cluster; this is the beginning of it. The level is exactly at this area because there’s also a Fair Value Gap. You can see it here highlighted in green — here’s the Fair Value Gap, and this is its beginning. I like to trade from the beginning of the Fair Value Gap in this bullish scenario. Those are the reasons for this level being exactly here, and now I’m just waiting for the pullback. If it occurs, then I’ll go long from there.

All right, so that’s for the NQ. Let’s now take a look at EUR/USD. On the euro, I want to talk about a level here at 1.1561. It’s based on a significant volume zone that formed before this strong uptrend started. Let me show you with a Volume Profile. You can look at it like this, for example, and as you can see, this heavy volume zone really stands out. It tells us that buyers were accumulating long positions here, and from this point, they started to push the price aggressively upwards. So, this is a very important place for buyers. If there’s a pullback to it in the future — doesn’t need to be today or tomorrow — there’s a chance there will be a nice reaction from it, because the buyers from here will want to defend this place. Clearly, it’s important for them because they built their long positions here and from there initiated strong buying activity. It’s an important area for buyers, and they’re likely to become active here again. That’s why I have the long at 1.1561.

All right, that’s for the euro. Now let’s take a look at GBP/USD. On the British pound, I’d like to talk about two levels — both are supports, this one and this one. By the way, we’re looking at a 30-minute chart of GBP/USD here. Let me start with the lower level at 1.3268 because it’s very similar to the one I just showed you on the euro. What we have here is a significant volume cluster — or, in other words, a significant volume zone — at the base of a new uptrend. This tells us that strong buyers were accumulating long positions here, and from this place, they pushed the price upwards. Again, this is an important place for buyers because they were active here before. If the price returns to this level, it’s likely they’ll become active again and push the price upwards. This place was important for them.

Now, let’s talk about the second long. It’s here at 1.3352 and is based on two setups: one Volume Profile setup and one Price Action setup. Let’s start with the Volume Profile setup. As you can see, this level formed within an uptrend. There was a significant volume zone inside that uptrend — this was the place where the heaviest volumes in that uptrend occurred. You can see that clearly on the Volume Profile. The level I have here is based on that heavy volume zone, which represents a place where buyers were active. As the price went upwards, buyers were adding to their long positions here, and then the price continued upwards even more. If there’s a pullback, chances are those buyers from here will become active again and push the price upwards, because this looks like an important place for them — they were very active here as the price was moving upwards. That’s why they should defend this place again.

Now, the Price Action setup: if you look at those two reactions, you’ll see that in the past, this level worked as a resistance. When the price broke through that resistance, it turned into a new support. This is a Price Action setup, and it aligns nicely with the Volume Profile setup we have here — both pointing to the same level. So, the chances for a successful reaction are even higher.

All right, now if you’re interested in learning more about Volume Profile trading, head over to my website at Trader-Dale.com. Click the Trading Course and Tools button — it’ll take you to a page where you can browse my trading education and custom-made trading tools. Right now, I’m running a special Halloween discount where you can get all the packs at a reduced price. You can get them separately, or if you scroll down to the bottom of the page, there’s a special deal where you can get all four packs together for a discounted price valid until the end of the month.

Before I wrap up the video, I’d like to announce the winner of the contest we had last time. The prize was my custom-made Volume Profile and VWAP indicators for the TradingView platform. Right now on your screen, you can see the name of the person who won the contest — congratulations to the winner! I’ll also do another contest for next week. The only thing you need to do to participate is leave a comment below the video when it’s published on YouTube, and next week I’ll randomly pick one person to win this set of custom-made indicators.

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