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 September 18 to 22, 2023. There were opened a total of 4 trades in two currency pairs.
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.
On Monday the market was in the dead zone, and the first signal to open a buy trade on EURUSD was given by the Owl Smart Levels indicator on Tuesday afternoon.
Fig. 1. EURUSD BUY 0.19, OpenPrice = 1.06818, StopLoss = 1.06741, TakeProfit = 1.07066, Profit = $48.31.
The price jump after the signal appeared and the trade was opened allowed to get a profit of 48$ on TakeProfit, confidently set by the indicator at 250 points.
The next trade on the asset, this time for selling, was opened on Thursday.
Fig. 2. EURUSD SELL 0.10, OpenPrice = 1.06485, StopLoss = 1.06637, TakeProfit = 1.05993, Profit = -$15.
The indicator did not alert about the necessity to close the trade in time, and the loss amounted to 15$.
The Owl Smart Levels indicator suggested to open a trade for selling GBPUSD on Monday afternoon.
Fig. 3. GBPUSD SELL 0.11, OpenPrice = 1.23902, StopLoss = 1.24033, TakeProfit = 1.23478, Profit = -$15
Unfortunately, the indicator failed to warn about the trade closing and it was closed at StopLoss with a loss of 15$.
The market spent the second half of the day on Tuesday and Wednesday in the dead zone, there were no trades on Thursday, and the next trade was opened on Friday afternoon.
Fig. 4. GBPUSD SELL 0.09, OpenPrice = 1.22641, StopLoss = 1.22843, TakeProfit = 1.21989, Profit = -$5.98.
This time the Owl Smart Levels indicator gave a signal about the change of market direction in time, which helped to minimize losses up to 6$.
The market spent Monday and Friday in the dead zone, but there were no trades opened on the asset on other days as well.
So, there were 4 trades during the last trading week. Three of them were unprofitable and one was profitable. Since in the Owl Smart Levels strategy the profitability of each profitable trade is much higher than the size of the losing one, the final table shows a modest plus even in this case.
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:
I'm Sergei Ermolov, follow me and don't miss more useful tools for profitable trading on the Forex market.