Review of trades of the Owl Smart Levels strategy for the week from May 15 to 19, 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 15 to 19, 2023. 

EURUSD review

The market spent Monday and Tuesday steadily in the dead zone. The Owl Smart Levels indicator has not given a single signal to open a trade during these two days. The market was in the dead zone on Friday as well. On the whole, EURUSD had no trades last trading week.

GBPUSD review

The market spent Monday steadily in the dead zone. On Tuesday the Owl Smart Levels indicator proposed to open a trade for selling from the level 1.25065.

Fig. 1. GBPUSD SELL 0.06, OpenPrice = 1.25065, StopLoss = 1.25321, TakeProfit = 1.24237, Profit = -$15

The trade could not be closed due to the reversal of the indicator's big arrow, because the shadow of the bullish candle crossed the StopLoss level for a fraction of a second.

Thus, the only trade on GBPUSD last week was unprofitable.

AUDUSD review

There were three opened trades on AUDUSD. The market was in the dead zone on Monday. The first trade of selling was opened on Tuesday.

Fig. 2. AUDUSD SELL 0.12, OpenPrice = 0.66848, StopLoss = 0.66969, TakeProfit = 0.66454, Profit = -$9.30

The trade turned out to be a loss, but the loss was minimized by the big arrow of the Owl Smart Levels indicator.

The next trade was also opened on Tuesday and was also for selling, the indicator was confidently working in a downward trend.

Fig. 3. AUDUSD SELL 0.15, OpenPrice = 0.66845, StopLoss = 0.66963, TakeProfit = 0.66463, Profit = $56.65

The trade closed on TakeProfit and brought quite a good profit.

The last trade of the previous week was for selling Aussie dollar from 0.66584 level.

Fig. 4. AUDUSD SELL 0.13, OpenPrice = 0.66584, StopLoss = 0.66698, TakeProfit = 0.66214, Profit = -$15

As in the case with the first trade on GBPUSD the candle caught the StopLoss level with its shadow, and the trade was negative $15.

Results:

It looks like the market is entering into a period of a trend trading. Let's see what the next week brings and how the Owl Smart Levels performs.

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