Review of trades of the Owl Smart Levels strategy for the week from April 10 to 14, 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 April 10 to 14, 2023. After the holidays, the market seemed to be in a state of "recovery", two days of the week were practically swallowed up by the "dead zone" and there were not many trades.
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.
EURUSD review
Monday had only a couple of unconfirmed signals, Tuesday and Friday the market spent in the dead zone, and despite several signals there were no trades opened according to the rules of working with indicator.
GBPUSD review
There were no signals on Monday, and the market spent Tuesday in the dead zone. The signal, on which the trade was opened, was received on Thursday. However the deal was loss-making and was closed by StopLoss.
Fig. 1. GBPUSD BUY 0.28, OpenPrice = 1.24871, StopLoss = 1.24817, TakeProfit = 1.25047, Profit = -$15.
The next trade was also opened for buying and also failed, being closed by the market at StopLoss.
Fig.2. GBPUSD BUY 0.12, OpenPrice = 1.25146, StopLoss = 1.25006, TakeProfit = 1.25600, Profit = -$17.50.
The market was in the dead zone on Friday.
AUDUSD review
On AUDUSD currency pair a buy trade was opened on Wednesday. It had to be closed "manually" after the big arrow of the Owl Smart Levels indicator turned down, when market volatility increased. The profit was minimal.
Fig. 3. AUDUSD BUY 0.07, OpenPrice = 0.66873, StopLoss = 0.66653, TakeProfit = 0.67585, Profit = $4.43
The last trade this week, which was also opened for buying, was closed by TakeProfit and it has brought a good profit, turning the entire trading of the last week into the profit.
Fig. 4. AUDUSD BUY 0.11, OpenPrice = 0.66989, StopLoss = 0.66853, TakeProfit = 0.67427, Profit = $48.31
Results:
After a good profit on trades opened thanks to the Owl Smart Levels indicator in February, on the trend market, in March and April, on the global flat market movement or "sideways" we can state a certain decline in profitability. The big arrow of the indicator often turns around and trades have to be closed "manually" in order to avoid losses.
Nevertheless, with the TakeProfit size, more than three times the StopLoss size, trading on the Owl Smart Levels indicator allows you to close during such periods of market activity every week with a relatively small but still profit!
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.
