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At present I current you an outline of trades made utilizing the Owl technique – sensible ranges for the EURUSD, GBPUSD and AUDUSD forex pairs for the week from Might 01 to 05, 2023.
For comfort and well timed receipt of indicators I exploit the Owl Sensible Ranges Indicator. The principle buying and selling timeframe is M15, whereas the H1 and H4 timeframes are used to substantiate the pattern course of the upper timeframe.
EURUSD assessment
Final week EURUSD trades have been opened in numerous instructions: two promote trades and one purchase one. The primary commerce for promoting was opened on Monday, however the market modified its course and it needed to be closed shortly manually on the well-timed trace of the massive arrow of the Owl Sensible Ranges indicator, which has supplied a minimal loss.
Fig. 1. EURUSD BUY 0.15, OpenPrice = 1.10044, StopLoss = 1.10144, TakeProfit = 1.09722, Revenue = -$3.00.
The second commerce to purchase EURUSD was opened on Wednesday, Might 3, 2023.
Fig. 2. EURUSD BUY 0.14, OpenPrice = 1.10267, StopLoss = 1.10142, TakeProfit = 1.10671, Revenue = $56.56.
The commerce was robotically closed by TakeProfit and it has introduced fairly a very good revenue. From the second half of Thursday the market was within the lifeless zone for twenty-four hours, which was mounted by the indicator.
The third commerce was opened on Friday night. It has turned out to be loss-making, and solely because of the well timed indicator’s assist the attainable loss has been considerably minimized.
Fig. 3. EURUSD BUY 0.06, OpenPrice = 1.10070, StopLoss = 1.10319, TakeProfit = 1.09262, Revenue = -$7.77.
The indicator has completely processed the dangers and in time supplied to shut two trades out of three on EURUSD change of course.
GBPUSD assessment
The state of affairs is analogous on GBPUSD. Typically, all buying and selling throughout the earlier week might be conditionally carried out by the rule of closing trades manually by the change of the indicator large hand course.
I’ll by no means get bored with reminding you one of many guidelines of working with the indicator: as quickly as the massive arrow of the Owl Sensible Ranges indicator adjustments its course and, accordingly, its coloration, the commerce must be closed manually as quickly as attainable, that can mean you can decrease the loss, for instance -$3 as an alternative of -33$ or -$7 as an alternative of -77$, and so forth. These are the actual figures of final week on EURUSD. And listed here are examples of trades associated to loss minimization on GBPUSD as effectively, although losses right here have been a bit larger.
On Monday the market was within the lifeless zone and the primary commerce on the asset was opened on the market on Tuesday.
Fig. 4. GBPUSD BUY 0.08, OpenPrice = 1.24657, StopLoss = 1.24843, TakeProfit = 1.24053, Revenue = -$12.98.
The subsequent determine reveals precisely how this commerce was closed as a result of change of course and coloration of the indicator arrow.
Fig. 4A. Reverse of the massive arrow of the Owl Sensible Ranges indicator and shutting of the commerce manually at 1.24818
The commerce needed to be closed manually and to attenuate the loss as a result of reversal of the massive arrow of the Owl Sensible Ranges indicator, warning of a change within the worth course.
On Wednesday and partially on Thursday the market went to the lifeless zone once more. The second and final commerce on GBPUSD was opened on Friday.
Fig. 5. GBPUSD BUY 0.12, OpenPrice = 1.26112, StopLoss = 1.25971, TakeProfit = 1.26568, Revenue = -$15.89.
Final buying and selling week there have been solely two shedding trades on GBPUSD.
AUDUSD assessment
Each trades on AUDUSD have been opened for getting. The primary one was opened directly on Monday.
Fig. 6. AUDUSD BUY 0.11, OpenPrice = 0.66465, StopLoss = 0.66332, TakeProfit = 0.66897, Revenue = -$8.23.
As soon as once more, the loss was minimized by closing this commerce manually earlier than closing it robotically by StopLoss.
However, after all, irrespective of how good the Owl Sensible Ranges is at minimizing attainable losses of the earlier week, its important worth remains to be find worthwhile trades, akin to the next one.
Fig. 7. AUDUSD BUY 0.22, OpenPrice = 0.66286, StopLoss = 0.66206, TakeProfit = 0.66544, Revenue = $56.44
The commerce closed classically on TakeProfit, and the value rise would have been sufficient for 2 ranges of TakeProfit.
Outcomes:
So, there have been 7 trades and never a single one closed by StopLoss, the indicator was all the time on guard. Because of the one two worthwhile trades discovered by the Owl Sensible Ranges indicator and well timed alerts to shut the trades with a view to decrease the losses, the ultimate buying and selling image turned out to be very favorable.
See different evaluations of the Owl Sensible Ranges technique:
I am Sergei Ermolov, observe me and do not miss extra helpful instruments for worthwhile buying and selling on Forex.
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