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 June 5 to 9, 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.
There were four open trades in total, and they took place on each currency pair. The Owl Smart Levels indicator did its job and indicated the dead zone as usual, prompted to close the trades manually on the reversal of the big arrow on M15 timeframe and recommended opening profitable trades.
On Monday the market was in dead zone all day long, on Tuesday there were no trades and the first actual signal on EURUSD was given by the Owl Smart Levels indicator on Wednesday.
Fig. 1. EURUSD SELL 0.14, OpenPrice = 1.06851, StopLoss = 1.06956, TakeProfit = 1.06513, Profit = -$11.29.
The trade went into minus, but losses, as almost always, were minimized with the help of the indicator big arrow, showing a change in the direction of the market.
There were no trades on the asset on Thursday and Friday.
After the dead zone that lasted throughout Monday, the Owl Smart Levels indicator suggested opening a trade for buying GBPUSD asset on Thursday.
Fig. 2. GBPUSD BUY 0.38, OpenPrice = 1.2446, StopLoss = 1.24421, TakeProfit = 1.24588, Profit = $49.23.
The trade was completed in a classical way and quickly closed at TakeProfit level in about an hour after it was opened.
The second trade was also opened on Thursday, also for buying and also was successful, but lasted much longer.
Fig. 3. GBPUSD BUY 0.10, OpenPrice = 1.24564, StopLoss = 1.24412, TakeProfit = 1.25054, Profit = $48.36.
The trade was closed by TakeProfit and it brought a good profit.
There were no trades on this asset on Friday.
Only one trade was opened on AUDUSD, as well as on EURUSD. The indicator has suggested to open it for buying on Thursday.
Fig. 4. AUDUSD BUY 0.28, OpenPrice = 0.67095, StopLoss = 0.67042 TakeProfit = 0.67267, Profit = -$11.04.
The trade turned out to be unprofitable, and it had to be closed quickly after the reversal of the big arrow of the indicator, minimizing the loss.
So, last week only 4 trades were opened, one for selling and three for buying. Two trades were closed by TakeProfit with good profit and in two cases the indicator gave a timely prompt to close them manually to minimize the losses.
So, after the modest profits of the week before last the trading results look much more optimistic. The results are quite satisfactory. Let's see what the next trading week will bring and what trades the Owl Smart Levels indicator will offer to us.
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I'm Sergei Ermolov, follow me and don't miss more useful tools for profitable trading on the Forex market.