Weekly Owl Smart Levels Strategy Trading Review for January 22-26, 2024 – My Trades – March 6, 2024
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 January 22 to 26, 2024.
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 and only trade for this currency pair started on Friday at 16:15 on the signal of the Owl Smart Levels indicator and, unfortunately, ended with a loss of 15$ at StopLoss.
Figure 1. EURUSD BUY 0.13, OpenPrice = 1.08667, StopLoss = 1.08555, TakeProfit = 1.09031, Profit = -$15.
AUDUSD Review
The first trade for this currency pair was initiated on Monday at 15:30 on the Owl signal and closed with a loss of $15 on StopLoss.
Figure 2. AUDUSD BUY 0.23, OpenPrice = 0.65866, StopLoss = 0.65801, TakeProfit = 0.66076, Profit = -$15.
The second transaction for this financial instrument occurred at 16:45 on Wednesday. According to the strategy, the trade was initiated with a higher risk of 1.75%. The risk for the first trade is set at 1.5% and if the trade ends at a loss the risk increases by 0.25%. The trade was closed at StopLoss, resulting in a loss of $17.
Figure 3. AUDUSD BUY 0.17, OpenPrice = 0.66017, StopLoss = 0.65915, TakeProfit = 0.66347, Profit = -$17.50.
There were no GBPUSD transactions this week.
result:
There have been 3 transactions in the last trading week and the total balance is negative. The currency market is trading sideways and cannot choose the direction of development. All this is reflected in indicators, advisors and trading systems. For the first time in several weeks, the Owl Smart Levels indicator and the trading system developed based on it showed negative results. Based on long-term previous observations of the indicator’s operation, it is likely that after the currency market stabilizes the indicator will again show its efficiency and bring profits. Detailed data are provided 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.
