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 August 14 to 18, 2023. A sufficient number of trades were opened in all assets, although most of them had to be closed on the indicator signal about the change of the trend.
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.
Half of Monday the market was in the dead zone, and the first signal to open a trade on EURUSD for selling was given by the Owl Smart Levels indicator closer to the evening.
Fig. 1. EURUSD SELL 0.05, OpenPrice = 1.09266, StopLoss = 1.09591, TakeProfit = 1.08214, Profit = $7.94.
The trade was closed according to the indicator signal after many hours and still brought minimal profit.
All Tuesday and most of Wednesday the market was in the dead zone, which lasted also in the second half of Thursday.
But on Friday a profitable trade was opened from the very morning.
Fig. 2. EURUSD SELL 0.22, OpenPrice = 1.08856, StopLoss = 1.08925, TakeProfit = 1.08632, Profit = $48.70.
The only trade closed according to the set limits ended with a profit of $48, which is such a favorite value of the indicator.
The Owl Smart Levels indicator offered to open half of the total number of trades on the GBPUSD asset, which is not so often giving an opportunity to open trades during the last trading week.
Fig. 3. GBPUSD SELL 0.13, OpenPrice = 1.26830, StopLoss = 1.26947, TakeProfit = 1.26452, Profit = -$1.28.
The indicator gave the signal about the necessity to close this trade in advance and the losses were reduced to almost zero. But when closing the next trade in a similar situation, the loss was slightly greater.
Fig. 4. GBPUSD SELL 0.04, OpenPrice = 1.26760, StopLoss = 1.27135, TakeProfit = 1.25548, Profit = -$7.92.
Unfortunately (or fortunately, as you can see), all subsequent trades had to be closed on the indicator’s prompting, as the price movement changed its direction unpredictably.
Fig. 5. GBPUSD BUY 0.09, OpenPrice = 1.27330, StopLoss = 1.27168, TakeProfit = 1.27854, Profit = -$10.56.
This trade, as well as many others last week, was closed by the indicator signal with a loss of 10$.
The last signal on the asset was received on Friday at 21:30 terminal time for buying, but before closing the weekly trades it is better not to open any more trades, as the Owl Smart Levels trading strategy does not provide for carrying positions through the weekend and all trades should be closed on Friday evening.
The Owl Smart Levels indicator signaled an opportunity to open a trade for selling AUDUSD on Monday morning.
Fig. 6. AUDUSD SELL 0.09, OpenPrice = 0.64803, StopLoss = 0.64964, TakeProfit = 0.64283, Profit = -$14.25.
The losses were minimized, but still they turned out to be tangible, minus 14$.
The second half of Monday and Tuesday were in the dead zone. The price movement in the second half of Wednesday and Thursday was also in the dead zone. In this regard, Owl Smart Levels did not give any more signals about possible trades on AUDUSD.
So, the market volatility did not favor trading and it can be seen by such indicator as the number of closed trades on the indicator signal about the change of trend.
There were 6 trades during the last trading week, and only two of them were profitable. As usual, the profitability of profitable trades exceeded the amount of loss, so the final table shows a rather modest but positive result of trading.
We will see how the trade 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.
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.