At present I current you an outline of trades made utilizing the Owl technique – good ranges for the EURUSD, GBPUSD and AUDUSD forex pairs for the week from April 17 to 22, 2023. There have been barely extra trades than final week, however the scenario available on the market has not grow to be higher.
For comfort and well timed receipt of alerts I exploit the Owl Sensible Ranges Indicator. The principle buying and selling timeframe is M15, whereas the H1 and H4 timeframes are used to substantiate the development path of the upper timeframe.
EURUSD evaluate
Regardless of the presence of a number of alerts on EURUSD, based on the principles of working with the indicator, nearly all of them weren’t taken under consideration, as the worth of the primary two candles from the second the sign appeared, by some means, was already on its line. The one commerce was opened on the final day of the buying and selling week and was unprofitable, instantly crossing out the StopLoss line on the 15-minute timeframe with an extended shadow of the following candle.
Fig. 1. EURUSD SELL 0.15, OpenPrice = 1.09540, StopLoss = 1.09637, TakeProfit = 1.09224, Revenue = -$15
GBPUSD evaluate
On the primary three days there have been no trades. The sign, on which the commerce on GBPUSD was opened, was acquired on Thursday. Nonetheless the commerce was loss-making and was shortly closed by StopLoss, like on EURUSD.
Fig. 2. GBPUSD BUY 0.14, OpenPrice = 1.24346, StopLoss = 1.24238, TakeProfit = 1.24698, Revenue = -$15.
The subsequent commerce was opened for promoting and it additionally turned out to be unprofitable, being closed by the market at StopLoss.
Fig. 3. GBPUSD SELL 0.26, OpenPrice = 1.24123, StopLoss = 1.24337, TakeProfit = 1.23429, Revenue = -$3.38.
In contrast to the primary commerce on the asset, this commerce was saved, or moderately minimized the loss as a result of reversal of the massive arrow of the Owl Sensible Ranges indicator, which warns of a change within the path of the worth.
AUDUSD evaluate
The primary commerce on AUDUSD asset was opened for purchasing on the chronological order of the very first within the buying and selling week. Nonetheless, the results of this commerce was inferior to it might be. It has been closed by StopLoss, in addition to described above, and introduced a loss.
Fig. 4. AUDUSD BUY 0.14, OpenPrice = 0.67014, StopLoss = 0.66905, TakeProfit = 0.67368, Revenue = -$15.
The scenario was not very joyful, see for your self: 4 dropping trades out of 4, amongst which 3 have been for -$15. The “large” commerce was crucial, which might lead all commerce this week to revenue. And it was executed, however first, a small disclaimer.
Why was it so troublesome to commerce? The actual fact is that the Owl Sensible Ranges indicator primarily based on the technique of the identical title is a development indicator. In different phrases, a dealer doesn’t must establish the development by himself, assess its power and period, after which activate the Owl Sensible Ranges, the indicator will do all of it for you. However it is very important have a development motion available in the market. Sadly, for the final weeks the market has not been in a position to resolve on it, which isn’t excellent for the entire group of development indicators.
So, Drum roll: the final commerce of the final buying and selling week has introduced a long-awaited revenue, ending the buying and selling week on a constructive word.
Fig. 5. AUDUSD BUY 0.12, OpenPrice = 0.67137, StopLoss = 0.66989, TakeProfit = 0.67617, Revenue = $56.76
I’ve already talked about that after revenue on trades opened with the assistance of the Owl Sensible Ranges indicator on the development market in February, we will state a sure decline within the returns on the worldwide flat market motion or “sideways” in March and April.
Outcomes:
Properly, let’s anticipate the development to be fashioned.
See different opinions of the Owl Sensible Ranges technique:
I am Sergei Ermolov, observe me and do not miss extra helpful instruments for worthwhile buying and selling on Forex.
