Weekly Owl Smart Levels Strategy Trading Review for December 4-8, 2023 – My Trades – December 10, 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 December 4 to 8, 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 started at 11 am on Wednesday at the signal of the Owl Smart Levels indicator and was closed according to the arrow reversal rule in the default time frame, minimizing the loss to 1$.
FIG. 1. EURUSD SELL 0.17, OpenPrice = 1.07920, StopLoss = 1.08010, TakeProfit = 1.07630, Profit = -$1.
The second trade for this financial instrument occurred at 15:30 on the same day and was closed at StopLoss, resulting in a loss of $15.
FIG. 2. EURUSD SELL 0.16, OpenPrice = 1.07874, StopLoss = 1.07970, TakeProfit = 1.07562, Profit = -$15.
GBPUSD Review
The first trade of this currency pair started at 11:15 on Monday at the owl signal and ended according to the arrow reversal rule of the default time frame, this time resulting in a loss of 10$.
Figure 3. GBPUSD SELL 0.16, OpenPrice = 1.26755, StopLoss = 1.26847, TakeProfit = 1.26459, Profit = -$10.27.
The second transaction for this financial instrument occurred the following day, Tuesday, at 11:00 AM. According to the strategy, it was opened with an increased 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 4. GBPUSD SELL 0.13, OpenPrice = 1.26270, StopLoss = 1.26404, TakeProfit = 1.25838, Profit = -$17.50.
The third transaction for this asset occurred at 10am on Wednesday. According to the strategy, it was opened with a 2% risk, with a further 0.25% increase in risk. The trade was closed by TakeProfit, resulting in a long-awaited profit of $64.
Figure 5. GBPUSD SELL 0.26, OpenPrice = 1.2052, StopLoss = 1.26128, TakeProfit = 1.25808, Profit = $64.21.
The fourth trade for this pair occurred just before the closing of the last trading session of the week at 17:00 on Friday, following the rule that all trading closes at 16:00 GMT on the last trading day of the week (terminal at 18:00 time), bringing a profit of $8.
Figure 6. Sell GBPUSD 0.05, OpenPrice = 1.25536, StopLoss = 1.25859, TakeProfit = 1.24490, Profit = $8.22.
AUDUSD Review
The first and only trade for this currency pair was opened on the Owl signal at 17:15 on Tuesday and ended in accordance with the rule of closing all trades after 19:00 GMT (21:00 last time), resulting in a profit of: . $30.
Figure 7. Sell AUDUSD 0.17, OpenPrice = 0.65699, StopLoss = 0.65785, TakeProfit = 0.65419, Profit = $30.
result:
There were 7 transactions during the last trading week and the total balance is positive. Major currencies traded using the Owl Smart Levels indicator traded differently this week. The euro and pound were falling against the US dollar, and the Australian dollar was trending narrowly. This made trading difficult, but nevertheless the Owl Smart Levels indicator and the trading strategy developed on its basis overcame difficult challenges and showed good results last week, recording a return on deposits of 5.9% during 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.
