Review of trades of the Owl Smart Levels strategy for the week from July 31 to August 4, 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 July 31 to August 4, 2023. There were opened in total 5 trades on two out of three currency pairs.

EURUSD review

The Owl Smart Levels indicator gave the first signal to open a trade on EURUSD, for selling, on Tuesday morning.

Fig. 1. EURUSD SELL 0.19, OpenPrice = 1.09921, StopLoss = 1.10002, TakeProfit = 1.09659, Profit = $48.52.

The trade ended with a classic TakeProfit and brought such a favorite indicator's amount of profit of $48.

The second trade was opened for selling in the evening of the same day.

Fig. 2. EURUSD SELL 0.14, OpenPrice = 1.09773, StopLoss = 1.09881, TakeProfit = 1.09423, Profit = -$14.86.

This trade on EURUSD turned out to be unprofitable. It had to be closed manually according to the indicator hint, which was a bit delayed, so we managed to save literally a couple of dollars.

The third and the last trade on EURUSD was opened for selling on Wednesday.

Fig. 3. EURUSD SELL 0.16, OpenPrice = 1.09852, StopLoss = 1.09962, TakeProfit = 1.09494, Profit = $56.95.

The trade, just like the first one, was classically closed by TakeProfit and brought a good profit.

GBPUSD review

On Monday the GBPUSD market was in the dead zone, increasingly accelerating volatility, and the Owl Smart Levels indicator did not give any signal in this situation.

From Tuesday to Thursday there were a few signals, but at non-trading time according to the rules of our strategy.

On Friday, the market was steadily in the dead zone all day long, and as a result there were no trades on the asset.

AUDUSD review

On Monday the market was in the dead zone. Despite the fact that on Thursday the market was also in the dead zone all the second part of the day, the indicator managed to give a signal to open a trade at noon.

Fig. 4. AUDUSD BUY 0.14, OpenPrice = 0.65297, StopLoss = 0.65401, TakeProfit = 0.64959, Profit = -$5.91.

Here Owl Smart Levels gave a signal about the necessity to close the trade in advance and the loss was thoroughly minimized.

But on the next trade, opened on Friday evening, this was not possible.

Fig. 5. AUDUSD BUY 0.11, OpenPrice = 0.65858, StopLoss = 0.65721, TakeProfit = 0.66302, Profit = -$15.

The trade was closed at StopLoss. The signal to close it came, but with a slight delay, when the price was almost at the StopLoss level.

Results:

So, 5 trades took place during the last trading week and two of them were profitable. The profitability of profitable trades exceeded, as usual, three times the amount of unprofitable ones, so the final table looks quite good.

Let me remind you that according to the new rule introduced a week ago, we do not increase the risk of the next trade after closing the trade manually (!).

We will see how the trading will look like and how the market will behave, as well as what trades Owl Smart Levels will offer us to open on Monday during the upcoming trading week.

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