Review of trades of the Owl Smart Levels strategy for the week from December 18 to 22, 2023
Today I present you an overview of trades made using the Owl strategy - smart levels for the EURUSD, GBPUSD and AUDUSD currency pairs for the week from December 18 to 22, 2023.
For convenience and timely receipt of signals I use the Owl Smart Levels Indicator. The main trading timeframe is M15, while the H1 and H4 timeframes are used to confirm the trend direction of the higher timeframe.
EURUSD review
The first and the only trade on this currency pair was opened on the signal of the Owl Smart Levels indicator at 15:30 on the last trading session of the week and closed according to the rule of closing all trades on Friday after 16:00 GMT, bringing an insignificant profit.
Fig. 1. EURUSD BUY 0.30, OpenPrice = 1.10096, StopLoss = 1.09925, TakeProfit = 1.10650, Profit = $0.88.
GBPUSD review
The first trade on this currency pair was opened on the Owl signal on Wednesday at 15:30 and closed at StopLoss, bringing a loss of 15$.
Fig. 2. GBPUSD SELL 0.09, OpenPrice = 1.26597, StopLoss = 1.26787, TakeProfit = 1.25981, Profit = -$15.
The second trade on this financial instrument occurred on the same day at 19:45 and was closed by TakeProfit with a profit of 64$.
Fig. 3. GBPUSD SELL 0.09, OpenPrice = 1.2669, StopLoss = 1.26806, TakeProfit = 1.26340, Profit = $64.73.
The third trade on this asset occurred on Thursday at 12:00 and was closed at StopLoss, bringing a loss of 17$.
Fig. 4. GBPUSD SELL 0.09, OpenPrice = 1.26333, StopLoss = 1.26468, TakeProfit = 1.25895, Profit = -$17.50.
AUDUSD review
The first trade on this currency pair was opened on the Owl signal on Monday at 12:30 and closed at StopLoss, bringing a loss of 15$.
Fig. 5. AUDUSD BUY 0.13, OpenPrice = 0.67229, StopLoss = 0.67158, TakeProfit = 0.67459, Profit = -$15.
The second trade on this financial instrument occurred on Thursday at 19:00 and was closed according to the rule of closing all deals after 21:00 GMT, bringing a profit of 34$.
Fig. 6. AUDUSD BUY 0.14, OpenPrice = 0.67791, StopLoss = 0.67684, TakeProfit = 0.68315, Profit = $34.35.
Results:
There were 6 trades during the last trading week, the total balance is positive. Trading using the Owl Smart Levels indicator and the strategy developed on its basis during the year almost always stays in the positive zone, with rare exceptions. This is due to several principles incorporated into the indicator during its development. One of them is to choose the trading direction when the price movement vector coincides on the main and two auxiliary, higher timeframes. This corresponds to the classic trading postulate "Trend is your friend" and significantly increases the probability of a profitable trade. This week trading with the Owl Smart Levels indicator gave a good result - 5.2% return on deposit for the week.The detailed data is in the final table.
We will see how the trading will look like and how the market will behave, as well as what trades will be offered to us to open Owl Smart Levels on Monday, during the upcoming trading week.
See other reviews of the Owl Smart Levels strategy:
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