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At this time 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 15 to 19, 2023. It was not a straightforward week for buying and selling, however first issues first.
For comfort and well timed receipt of alerts I take advantage of the Owl Sensible Ranges Indicator. The principle buying and selling timeframe is M15, whereas the H1 and H4 timeframes are used to verify the pattern path of the upper timeframe.
Earlier than analyzing the 4 trades recommended by the Owl Sensible Ranges indicator, I’ll clarify the brand new guidelines that I added to the buying and selling system.
The primary. There are comparatively few gamers available in the market through the night time between 23:00 and eight:00, and the classical guidelines of pattern buying and selling could not work because of lack of liquidity. It’s tough for a pattern indicator to grasp the complexities of a sluggish, sluggish, flat or generally going in opposition to the technical evaluation market. Precisely right now the indicator makes essentially the most of its destructive trades. All that is higher exchanged for a wholesome sleep.
The second. Additional, we don’t take into consideration commerce alerts, if the StopLoss dimension is lower than 50 pips, and don’t open such trades. The Owl Sensible Ranges technique relies on market correction guidelines, whereas trades with such a small StopLoss are extra associated to not a pattern motion, however to “marking time”, which contradicts the primary ideas of the technique for locating entry factors into the market.
EURUSD assessment
The market spent Monday and Tuesday steadily within the useless zone. The Owl Sensible Ranges indicator has not given a single sign to open a commerce throughout these two days. The market was within the useless zone on Friday as nicely. On the entire, EURUSD had no trades final buying and selling week.
GBPUSD assessment
The market spent Monday steadily within the useless zone. On Tuesday the Owl Sensible Ranges indicator proposed to open a commerce for promoting from the extent 1.25065.
Fig. 1. GBPUSD SELL 0.06, OpenPrice = 1.25065, StopLoss = 1.25321, TakeProfit = 1.24237, Revenue = -$15
The commerce couldn’t be closed as a result of reversal of the indicator’s large arrow, as a result of the shadow of the bullish candle crossed the StopLoss degree for a fraction of a second.
Thus, the one commerce on GBPUSD final week was unprofitable.
AUDUSD assessment
There have been three opened trades on AUDUSD. The market was within the useless zone on Monday. The primary commerce of promoting was opened on Tuesday.
Fig. 2. AUDUSD SELL 0.12, OpenPrice = 0.66848, StopLoss = 0.66969, TakeProfit = 0.66454, Revenue = -$9.30
The commerce turned out to be a loss, however the loss was minimized by the massive arrow of the Owl Sensible Ranges indicator.
The following commerce was additionally opened on Tuesday and was additionally for promoting, the indicator was confidently working in a downward pattern.
Fig. 3. AUDUSD SELL 0.15, OpenPrice = 0.66845, StopLoss = 0.66963, TakeProfit = 0.66463, Revenue = $56.65
The commerce closed on TakeProfit and introduced fairly revenue.
The final commerce of the earlier week was for promoting Aussie greenback from 0.66584 degree.
Fig. 4. AUDUSD SELL 0.13, OpenPrice = 0.66584, StopLoss = 0.66698, TakeProfit = 0.66214, Revenue = -$15
As within the case with the primary commerce on GBPUSD the candle caught the StopLoss degree with its shadow, and the commerce was destructive $15.
Outcomes:
It seems just like the market is coming into right into a interval of a pattern buying and selling. Let’s have a look at what the subsequent week brings and the way the Owl Sensible Ranges performs.
See different opinions 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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