Immediately I current you an outline of trades made utilizing the Owl technique – good ranges for the EURUSD, GBPUSD and AUDUSD forex pairs for the week from Might 8 to 12, 2023. It was not a simple week for buying and selling, however first issues first.

EURUSD assessment

The market spent Monday and Wednesday largely within the lifeless zone. On different days the indicator did not attempt to open trades, so there have been no trades on EURUSD.

GBPUSD assessment

The Owl Good Ranges indicator has steered two shopping for trades on GBPUSD asset. 

On Monday there was a transparent sign for getting from the extent 1.26456. 

Fig.1. GBPUSD BUY 0.11, OpenPrice = 1.26456, StopLoss = 1.26315, TakeProfit = 1.26914, Revenue = -3.51$

The commerce needed to be closed when the market modified its path, as Owl Good Ranges warned about it in time.

The second commerce was additionally opened by the purchase sign from the extent 1.26318. 

Fig. 2. GBPUSD BUY 0.06, OpenPrice = 1.26318, StopLoss = 1.26023, TakeProfit = 1.27274, Revenue = -3.86$

And in addition this commerce needed to be closed manually, minimizing the loss, because of the big arrow of Owl Good Ranges, warning in opposition to sudden modifications within the worth path.

Thus, each trades turned out to be loss-making, however the loss has been tremendously minimized.

AUDUSD assessment

Solely three trades have been opened on AUDUSD. The primary commerce was opened on Monday. 

Fig. 3. AUDUSD BUY 0.23, OpenPrice = 0.67864, StopLoss = 0.67800, TakeProfit = 0.68072, Revenue = 1.41$

After an extended fluctuation there was a reversal of the primary indicator arrow and the commerce was closed with a small revenue of $1.41.

The market spent Might 9 within the lifeless zone. The following, fourth commerce was additionally opened for getting on Wednesday, Might 10. 

Fig. 4. AUDUSD BUY 0.06, OpenPrice = 0.67723, StopLoss = 0.67440, TakeProfit = 0.68641, Revenue = -9.54$

This commerce needed to be closed in guide mode as nicely, but it surely was not attainable to reduce the loss to the total extent.

The final commerce of the earlier week was opened for promoting from the extent of 0.66983.

Fig. 5. AUDUSD SELL 0.25, OpenPrice = 0.66983, StopLoss = 0.67063, TakeProfit = 0.66723, Revenue = -12.25$

So, final week there have been solely 5 trades and never a single one closed by StopLoss. The indicator was all the time on its guard and suggested to shut trades manually to reduce losses. Nonetheless, final buying and selling week was a report over the previous few months, because it resulted in a loss. An excessive amount of volatility, an incapacity of the market to resolve on the path of motion, and chaotic side-to-side motion led to the truth that even the Owl Good Ranges was not in a position to pull in a constructive closing buying and selling stability in situations of significantly excessive volatility. How anybody might commerce final week with out an indicator or robotic in any respect is tough to think about.

Outcomes:

Solely by the tip of the week the market was kind of in a position to resolve on its path. Effectively, let’s examine what the subsequent week brings and the way the Owl Good Ranges will carry out. If the development commerce takes place, I feel the consequence shall be important and can exceed the outcomes of the earlier week.

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