Owl Smart Levels Strategy Trading Review for the Week of November 27 – December 1, 2023 – My Trades – December 4, 2023
Today I present an overview of trades made using the Owl strategy – smart levels on the EURUSD, GBPUSD and AUDUSD currency pairs for the week from November 27 to December 1, 2023.
For convenience and timely signal reception, I use: Owl Smart Level Indicator. The main trading time frame is M15, while the H1 and H4 time frames are used to confirm the trend direction on higher time frames.
EURUSD Review
The first trade for this currency pair was opened following the Owl Smart Levels indicator signal at 11:30 on Friday, the last trading week session, and was closed at TakeProfit with a profit of $48.
FIG. 1. EURUSD SELL 0.15, OpenPrice = 1.09013, StopLoss = 1.09112, TakeProfit = 1.08693, Profit = $48.48.
The second trade for this financial instrument occurred at 18:45 on the same day and was closed according to the rule of closing all trades at 16:00 GMT on Friday, resulting in a minimal profit.
FIG. 2. EURUSD SELL 0.07, OpenPrice = 1.08775, StopLoss = 1.09003, TakeProfit = 1.08039, Profit = $1.32.
GBPUSD Review
The first trade for this currency pair was initiated on Tuesday at 14:00 on the Owl signal and closed on TakeProfit, resulting in a profit of 48 $.
Figure 3. GBPUSD BUY 0.12, OpenPrice = 1.26186, StopLoss = 1.26060, TakeProfit = 1.26596, Profit = $48.81.
The second trade for this financial instrument occurred a day later, on Thursday, at 18:45 and was closed according to the rule of closing all trades at 19:00 GMT, resulting in a profit of $14.
Figure 4. GBPUSD SELL 0.05, OpenPrice = 1.26484, StopLoss = 1.26767, TakeProfit = 1.25566, Profit = $14.36.
AUDUSD Review
The first and only trade for this currency pair was initiated on the Owl signal at 10 am on Friday, during the last trading week session. The strategy rules based on the Owl Smart Levels indicator state that if the indicator gives a signal to set StopLoss closer than 50 pips to a 5-digit quote, no trade will be opened. Since the stop was a little further away from the opening price, 56 pips away, the trade was opened and ended at StopLoss, resulting in a loss of $15.
Figure 5. AUDUSD SELL 0.27, OpenPrice = 0.66077, StopLoss = 0.66133, TakeProfit = 0.65895, Profit = -$15.
result:
Last trading week there were 5 transactions. All major currencies traded using the Owl Smart Levels indicator lost development momentum this week. Positive signals coming from the Federal Reserve and economic data and supporting the growth of these currencies have run out over the past few weeks. The market stopped developing and started trading in side aisles. Indicators and trading systems typically perform best in trending markets and perform poorly or erratically during sideways trading. However, despite the absence of intentional movements in the market, the Owl Smart Levels indicator performed well last week, delivering excellent results, including achieving a deposit return of 9.8% for the week. Detailed data is in the final table.
We will find out how the trade will proceed, how the market will behave and what trades will be available to open Owl Smart Levels on Monday during the upcoming trading week.
See other reviews of the Owl Smart Levels strategy:
I am Sergey Ermolov, Follow me so you don’t miss out on more useful tools for profitable trading in the Forex market.
