Owl Smart Levels Strategy Trading Review for the Week of April 3-7, 2023 – My Trades – March 14, 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 April 3 to 7, 2023. It was a short week for Good Friday as financial markets in the US, UK and many European countries were flat on Friday.
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 market spent Monday in a dead zone and indicators suggested opening the first trades on Tuesday midway through the trading day.
Figure 1. EURUSD BUY 0.07, OpenPrice = 1.09040, StopLoss = 1.08828, Take Profit = 1.09728, Profit = $48.68.
Volatility was very high and the market started to move downward targeting the StopLoss level, but then “changed its mind” and spiked the TakeProfit level.
In general, there was no further trading in EURUSD and the chart spent Thursday in the dead zone.
GBPUSD Review
On Monday afternoon, the market was in a dead zone and after that, even if the indicators showed a signal to open one or two trades, they had to be canceled and manually liquidated due to a change in market direction, with the rare signal being canceled later until the current trade was closed. You can skip it without waiting.
A clear buy signal was received on Thursday when trading opened. However, the price fell sharply and the trade was terminated by StopLoss, resulting in a loss of $15.
Figure 2. GBPUSD BUY 0.08, OpenPrice = 1.24561, StopLoss = 1.24370, Take Profit = 1.25179, Profit = -$15.
AUDUSD Review
AUDUSD trading only opened on Thursday. The signals of the Owl Smart Levels indicator for sale are shown in Figure 3, with the price falling further as the TakeProfit level is crossed.
Figure 3. AUDUSD BUY 0.17, OpenPrice = 0.67006, StopLoss = 0.67095, Take Profit = 0.66718, Profit = $48.54.
The trade was closed at TakeProfit with a nice profit.
Due to the holidays many markets were not operating on Friday and there was no point in trading even if there was an opportunity to do so. So there were only 3 trades during a 4 day trading week.
result:
This week has proven to be short and a bit chaotic as it often comes before the holidays and there are fewer signals as well as trades. Nonetheless, trading using the Owl Smart Levels indicator was successful.
Let’s see what happens next week and how Owl Smart Levels works.
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.
