Volume Profile Trading Ideas (GOLD, S&P 500, GBP/USD)

Hello everyone, it’s Dale here with a new weekly trading ideas video. What you see before you is the NinjaTrader 8 platform with my custom-made Volume Profile and VWAP indicators.

The first idea I’d like to talk about is on Gold. This is a 30-minute chart of Gold Futures(GC), and the level I’d like to highlight is this support here at 2388. If you look at the Volume Profile from the previous week, the weekly Volume Profile here shows that the weekly point of control is right here. This is the place where the heaviest volumes throughout the whole previous week were traded. This price level, along with this heavy volume zone, indicates strong buying activity. This tells us that buyers were building up long positions here, especially if you look at the Volume Profile in this rotation before the strong buying activity. They were building up long positions here and then started pushing the price aggressively upwards.

The beginning of that heavy volume zone also coincides with the weekly point of control. If there is a pullback, chances are there will be a reaction as the buyers from this area will want to defend this level and push the price upwards again. This level is based on the weekly point of control, meaning that the heaviest volumes throughout the previous week were traded here, as well as on the volumes traded right before this strong buying activity, indicating active buyers.

Alright, that’s it for gold. Let me now switch over to the next trading idea. The next one will be on the ES, which are futures for the S&P 500 Index. This is a 30-minute chart, and if you look here, there is also a weekly point of control visible on this weekly Volume Profile, showing the volume distribution over the entire previous week. This is where the heaviest volumes were traded, marking the weekly point of control. From this heavy volume zone, very strong and aggressive buying activity started. So, if there is a pullback, there’s a chance that buyers will defend this area and push the price upwards again. The beginning of that heavy volume zone is at 5646.

To improve your trade entries and exits, I also recommend using Orderflow software. When the price is around the level, you can use the Orderflow software for trade entry confirmation and better timing your trade entries and exits. If you want to learn how to trade with Orderflow or get the Orderflow software, you can visit my website, trader-dale.com. Currently, I’m running a special Independence Day sale, offering my best education and indicator packs at a massive discount. If you click the button that says “Trading Course and Tools” it will take you to that page where you can get the Volume Profile Pack and the Orderflow Pack discounted. The Volume Profile Pack focuses on teaching everything about Volume Profile, and the Orderflow Pack focuses on day trading with Orderflow. Both packs include my custom-made indicators.

If you want both the Volume Profile and Orderflow Pack, you can get them in a special discounted bundle at the bottom of the page. As I mentioned, the Independence Day sale is currently running, so you can get these packs massively discounted.

Alright, let’s move on to the next trading idea. The next one is on GBP/USD. This is also a 30-minute chart, and as you can see, there are two support levels marked on my chart. The first one is at 1.2880, and the second one is at 1.2812. Looking at the Volume Profile and volume distribution throughout this trend area, let’s first talk about the first support level. The Volume Profile shows that this support is at the beginning of this heavy volume zone from which very aggressive buying activity started. This indicates a place where buyers were actively adding to long positions and pushing the price upwards. So, if there is a pullback, there’s a chance of a reaction because of buyers defending this heavy volume zone where they were previously active.

The second level is based on the heavy volumes formed here, with the same logic as the first level. There is one more thing that adds strength to the lower level: the weekly point of control. If I remove the flexible profile, you can see that on the gray profile, which is the weekly Volume Profile, this is the weekly point of control where the heaviest volumes throughout the week were traded, adding strength to our level.

Watch out for these levels; hopefully, we will see pullbacks to these levels, ideally a pullback to the first one and then the second one, with a reaction.

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 see the name of the contest winner. Congratulations to the winner! I will hold another contest for next week. To participate, leave a comment below this video on YouTube, and next week I’ll randomly pick one person to win a set of custom-made indicators.

That’s all for today. Thanks for watching, and I look forward to seeing you next time. Until then, happy trading!