Review of trades of the Owl Smart Levels strategy for the week from January 22 to 26, 2024
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 January 22 to 26, 2024.
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 on Friday at 16:15 and, unfortunately, was closed at StopLoss with a loss of 15$.
Fig. 1. EURUSD BUY 0.13, OpenPrice = 1.08667, StopLoss = 1.08555, TakeProfit = 1.09031, Profit = -$15.
AUDUSD review
The first trade on this currency pair was opened on the Owl signal on Monday at 15:30 and was closed at StopLoss with a loss of 15$.
Fig. 2. AUDUSD BUY 0.23, OpenPrice = 0.65866, StopLoss = 0.65801, TakeProfit = 0.66076, Profit = -$15.
The second trade on this financial instrument occurred on Wednesday at 16:45. According to the strategy, the trade was opened with a higher risk of 1.75%. The risk for the first trade is set at 1.5% and if the trade is closed with a loss, the risk is increased by 0.25%. The trade was closed at StopLoss, bringing a loss of 17$.
Fig. 3. AUDUSD BUY 0.17, OpenPrice = 0.66017, StopLoss = 0.65915, TakeProfit = 0.66347, Profit = -$17.50.
There were no trades on GBPUSD this week.
Results:
There were 3 trades during the last trading week, the total balance is negative. The currency market is trading in a sideways corridor and cannot choose the direction of its development. All this is reflected in indicators, advisors and trading systems. For the first time in many weeks the Owl Smart Levels indicator and the trading system developed on its basis showed negative results. There is a high probability, based on the long previous statistics of observation of the indicator's operation, that after the stabilization of the currency market the indicator will again show its effectiveness and will bring profit. The detailed data are 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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