Assessment of trades of the Owl Good Ranges technique for the week from January 30 to February 3, 2023 – My Buying and selling – 16 March 2024

At present I current you an summary of trades made utilizing the Owl technique – good ranges for the EURUSD, GBPUSD and AUDUSD forex pairs for the week from January 30 to February 3, 2023. Now it’s not a straightforward interval for development methods as a result of the market has been caught in a small channel for a very long time and it’s not transferring anyplace. Which means development methods may give quite a lot of false alerts. However let’s see what we received.

EURUSD evaluate 

The start of the week for the Euro was inside the “Lifeless Zone” (the purple zone of the Owl Good Ranges Indicator, during which it’s not really useful to commerce), however already at 7:00 on January 30 the primary sign to purchase the euro towards the greenback appeared. The commerce closed with a loss. Due to this the brand new rule was added – to not commerce on Monday morning. The market is simply opening, there are only a few main gamers, and lots of merchants are solely attempting to look intently on the market and kind a buying and selling plan for the week.

Fig. 1. EURUSD BUY 0.21, OpenPrice=1.0868, StopLoss=1.0861, TakeProfit=1.0891, Revenue= -15$

After chaotic fluctuations on January 31, the EURUSD market turned down and fashioned a sign, however already on the market: OpenPrice=1.0849, StopLoss=1.0860, TakeProfit=1.0814. The commerce was opened with a danger of 1.75% of the deposit (the primary was 1.5% of the deposit), as a result of the earlier one was unprofitable. The Euro labored out this sign very properly, and the revenue was fastened on the open commerce.

Fig. 2. EURUSD SELL 0.16, OpenPrice=1.0849, StopLoss=1.0860, TakeProfit=1.0814, Revenue= +56$

After some fluctuations and one other shift into the lifeless zone, the upward motion recuperated. On February 1 at 15:03 GMT, a Purchase commerce was opened with a minimal cease measurement of solely 8 factors (digits = 4). Revenue was fastened on this commerce in a short time, and the market has already tuned in for an additional rise.

Fig. 3. EURUSD BUY 0.19, OpenPrice=1.0896, StopLoss=1.0888, TakeProfit=1.0924, Revenue= +53$

At 21:01 one other purchase commerce was opened which closed fairly rapidly however made everybody nervous, because the market went down and was actually 1 level away from StopLoss. Then the EURUSD pair went up very far and the correction needed to wait till the subsequent day. And on February 2, the lifeless zone appeared once more and didn’t permit buying and selling till the tip of the week. Solely at 13:30 on the Non Farm Payrolls information, all EURUSD timeframes started to indicate a downward development course. However after such information it’s higher to not enter the market as a result of it is rather risky and unpredictable.

Fig. 4. EURUSD BUY 0.11, OpenPrice=1.0902, StopLoss=1.0888, TakeProfit=1.0947, Revenue= +48$

GBPUSD evaluate 

The British Pound, just like the Euro, opened the week within the purple zone, which didn’t permit it to commerce all day on January thirtieth. And because of the chaotic multidirectional motion, the primary tarde was opened solely at 9:45 on January 31. She created a nervous ambiance, as she moved from the revenue zone to the loss zone for a really very long time, however in the long run she has reached TakeProfit.

Fig. 5. GBPUSD SELL 0.15, OpenPrice=1.2323, StopLoss=1.2333, TakeProfit=1.2293, Revenue= +45$

The subsequent promote sign didn’t take lengthy to attend, however I’ve a rule – to not open a commerce sooner than 10 candles after the closing of the earlier one. So I skipped the subsequent commerce.

Fig. 6. The Rule – to not open a commerce sooner than 10 candles after the closing of the final one

Additional, the market behaved chaotically. The technique didn’t give entry alerts, and finally the lifeless zone was fashioned within the afternoon. Solely on February 2 after 17:00, the British pound managed to get out of the lifeless zone, however on this present day the technique didn’t kind alerts.

Solely on February 3 at 9:00, it was potential to enter the market. GBPUSD closed my commerce with a loss and fell once more into the purple zone. After that I made a decision to not commerce the GBPUSD forex pair anymore this week, apart from, the technique didn’t give any extra alerts.

AUDUSD evaluate

The primary commerce within the Australian greenback opened at 10:00 on January thirtieth and closed with a revenue solely at 00:30 the subsequent day. One other promote sign appeared virtually instantly, however in accordance with the rule to not commerce 10 candles after closing the commerce, this sign was ignored.

Fig. 7. AUDUSD SELL 0.13, OpenPrice=0.7086, StopLoss=0.7098, TakeProfit=0.7050, Revenue= +45$

The subsequent excellent sign appeared on January 31 at 7:45. Revenue was fastened on the open place inside one hour. That is what I name the “Excellent entry sign”, when the market doesn’t transfer back and forth however instantly goes in the direction of TakeProfit after a rebound from the extent.

Fig. 8. AUDUSD SELL 0.17, OpenPrice=0.7034, StopLoss=0.7043, TakeProfit=0.7007, Revenue= +45$

Then the market started to appropriate upwards and after one false sign, on which a loss was obtained, the Australian greenback entered the Lifeless Zone. The market left the purple zone solely on Friday, however after the information about employment within the US, I don’t suggest buying and selling, furthermore, there have been no extra alerts.

Fig. 9. AUDUSD SELL 0.19, OpenPrice=0.7048, StopLoss=0.7056, TakeProfit=0.7025, Revenue= -15$

Outcomes:

The week from February 6 to February 10, 2023, I feel, will probably be extra intense for alerts on the Owl technique. Final week there have been 2 elementary information: the choice on the US rate of interest and Non Farm Payrolls. I consider that this may set the course for the corrective motion within the greenback which we now have been ready for thus lengthy.

Let’s examine what the subsequent week brings and the way the Owl Good Ranges performs.

I am Sergei Ermolov, comply with me and do not miss extra helpful instruments for worthwhile buying and selling on Forex.