Review of trades of the Owl Smart Levels strategy for the week from May 8 to 12, 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 May 8 to 12, 2023. It was not an easy week for trading, but first things first.

EURUSD review

The market spent Monday and Wednesday mostly in the dead zone. On other days the indicator didn't try to open trades, so there were no trades on EURUSD.

GBPUSD review

The Owl Smart Levels indicator has suggested two buying trades on GBPUSD asset. 

On Monday there was a clear signal for buying from the level 1.26456. 

Fig.1. GBPUSD BUY 0.11, OpenPrice = 1.26456, StopLoss = 1.26315, TakeProfit = 1.26914, Profit = -3.51$

The trade had to be closed when the market changed its direction, as Owl Smart Levels warned about it in time.

The second trade was also opened by the buy signal from the level 1.26318. 

Fig. 2. GBPUSD BUY 0.06, OpenPrice = 1.26318, StopLoss = 1.26023, TakeProfit = 1.27274, Profit = -3.86$

And also this trade had to be closed manually, minimizing the loss, thanks to the large arrow of Owl Smart Levels, warning against unexpected changes in the price direction.

Thus, both trades turned out to be loss-making, but the loss has been greatly minimized.

AUDUSD review

Only three trades have been opened on AUDUSD. The first trade was opened on Monday. 

Fig. 3. AUDUSD BUY 0.23, OpenPrice = 0.67864, StopLoss = 0.67800, TakeProfit = 0.68072, Profit = 1.41$

After a long fluctuation there was a reversal of the main indicator arrow and the trade was closed with a small profit of $1.41.

The market spent May 9 in the dead zone. The next, fourth trade was also opened for buying on Wednesday, May 10. 

Fig. 4. AUDUSD BUY 0.06, OpenPrice = 0.67723, StopLoss = 0.67440, TakeProfit = 0.68641, Profit = -9.54$

This trade had to be closed in manual mode as well, but it was not possible to minimize the loss to the full extent.

The last trade of the previous week was opened for selling from the level of 0.66983.

Fig. 5. AUDUSD SELL 0.25, OpenPrice = 0.66983, StopLoss = 0.67063, TakeProfit = 0.66723, Profit = -12.25$

So, last week there were only 5 trades and not a single one closed by StopLoss. The indicator was always on its guard and advised to close trades manually to minimize losses. Nevertheless, last trading week was a record over the past few months, as it resulted in a loss. Too much volatility, an inability of the market to decide on the direction of movement, and chaotic side-to-side movement led to the fact that even the Owl Smart Levels was not able to pull in a positive final trading balance in conditions of particularly high volatility. How anyone could trade last week without an indicator or robot at all is hard to imagine.

Results:

Only by the end of the week the market was more or less able to decide on its direction. Well, let's see what the next week brings and how the Owl Smart Levels will perform. If the trend trade takes place, I think the result will be significant and will exceed the results of the previous week.

I'm Sergei Ermolov, follow me and don't miss more useful tools for profitable trading on the Forex market.