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At this time I current you an outline of offers made utilizing the Owl technique – good ranges for the EURUSD, GBPUSD and AUDUSD foreign money pairs for the week from 20 to 24 February, 2023.
For comfort and well timed receipt of indicators I exploit the Owl Sensible Ranges Indicator. The primary buying and selling timeframe is M15, whereas the H1 and H4 timeframes are used to substantiate the development path of the upper timeframe.
EURUSD evaluation
The week for EURUSD began in a useless zone, the primary sign appeared solely at 13:30 GMT. It was cancelled since there’s a rule within the buying and selling technique:
If the value is behind the order opening stage in the meanwhile the sign seems, or was already there, the sign needs to be ignored.
Determine 1. The canceled sign appeared on the shut of a big inexperienced candle, above the white line.
If the value strikes so sharply in the other way there’s a excessive chance of a reversal of the instrument in the other way. We have to enter on corrective market actions however they normally are likely to stretch over time.
On Tuesday a number of indicators have been additionally ignored. Within the morning the market simply didn’t attain the opening worth after which one other sign was canceled by a pointy worth motion above the open worth stage.
Additionally on Tuesday yet another situation for order cancellation allowed avoiding a loss commerce:
If a brand new stage Down of the Full Fractals Indicator appeared above the opening worth stage of a commerce, in case of a BUY sign, the BUY LIMIT order needs to be deleted. The identical applies to the SELL LIMIT order: if there’s a new Up stage of the Full Fractals Indicator under the opening worth, the order needs to be deleted.
Determine 2. Sign cancellation when a brand new Up fractal seems.
The primary commerce was opened solely on Wednesday evening but it surely has closed with a minus, the value has barely hit a cease after which has gone in the precise path. And the following deal has already introduced long-awaited revenue.
Determine 3. EURUSD SELL 0.12, OpenPrice=1.06486, StopLoss=1.06634, TakeProfit=1.06006, Revenue=+56,76$
On Friday evening, the Euro entered the useless zone. The value went out of the pink zone solely after 8:00 GMT and instantly gave a possibility to enter the market within the path of SELL.
Determine 4. EURUSD SELL 0.18, OpenPrice=1.05936, StopLoss=1.06021, TakeProfit=1.05660, Revenue=+48,71$
In that method the technique Owl Sensible Ranges labored very properly throughout such a tough week filtered out many trades which may deliver a loss.
PS: I personally decided yet another filter for myself however I didn’t publish it within the technique guidelines – don’t enter the market if the cease is bigger than 50 pips. Thus, the primary unfavorable commerce on EURUSD wouldn’t have been opened (StopLoss of the primary commerce is 44 pips).
GBPUSD evaluation
The Owl Sensible Ranges technique on the EURUSD pair gave a possibility to achieve good earnings this week, let’s take a look at what occurred on GBPUSD.
The British pound spent the entire of Monday and a part of Tuesday within the useless zone. It obtained out of the useless zone solely at 9:00 GMT, after which with a pointy upward worth motion on the information concerning the enterprise exercise the market reversed all the symptoms up in an hour. (Normally after such strikes I take a pause in buying and selling for twenty-four hours for this pair however there aren’t any such guidelines within the technique, so let’s have a look at what is going to occur).
Determine 5. Sharp reversal of GBPUSD into an upward development.
The primary purchase commerce was opened round midnight on Tuesday and really shortly closed its revenue (Cease dimension was 43 pips, I normally skip such trades however EURUSD deal was registered within the desk, so let’s register this one too).
Determine 6. GBPUSD BUY 0.35, OpenPrice=1.21073, StopLoss=1.21030, TakeProfit=1.21213, Revenue=+48.84$
Then GBPUSD entered the useless zone as soon as extra, and on Thursday once more all the symptoms outlined a downward development. The upward motion within the GBPUSD has not been developed which implies that we are going to once more wait for brand new indicators to promote the GBPUSD for {dollars}. The following commerce was closed manually following the rule:
If the Valable ZigZag Indicator confirmed the other way the commerce needs to be closed on the market worth.
The following commerce was closed with a minus once more on a chaotic worth motion up and down, and there have been no extra offers on GBPUSD this week.
Determine 7. GBPUSD SELL 0.28, OpenPrice=1.20212, StopLoss=1.20275, TakeProfit=1.20010, Revenue=-17.50$
AUDUSD evaluation
Just like the British Pound, the Australian Greenback spent the start of the week within the pink zone. The primary commerce was opened at 9:30 GMT. The revenue on the commerce was fastened solely within the night shifting nearer and additional away from the TakeProfit stage a number of occasions. Respectively, in response to the foundations of the technique we missed all the indicators on Tuesday as we already had one commerce on AUDUSD available in the market.
Determine 8. AUDUSD SELL 0.12, OpenPrice=0.68886, StopLoss=0.69011, TakeProfit=0.68480, Revenue=+48.72$
I provides you with yet another instance of an order that needs to be deleted. A brand new stage Up of the Full Fractals Indicator has been fashioned, so the pending SELL LIMIT order positioned on the white line needs to be eliminated with out ready for the opening. As it will be anticipated, if the order had not been eliminated, we’d have acquired a loss on this commerce.
Determine 9. An instance of sign cancellation for AUDUSD.
Within the night of February 22 we entered the market once more at 17:45 GMT. The commerce was closed profitably when the Valable ZigZag Indicator turned failing to achieve TakeProfit stage simply 45 pips.
Determine 10. AUDUSD SELL 0.13, OpenPrice=0.68267, StopLoss=0.68379, TakeProfit=0.67903, Revenue=+19.50$
On February 23 once more there was a sign to promote the Australian greenback for the American greenback. The market went from the opening worth stage to the TakleProfit stage for nearly 12 hours, however nonetheless, round 16:00 GMT, the revenue was fastened.
Determine 11. AUDUSD SELL 0.17, OpenPrice=0.6833, StopLoss=0.68417, TakeProfit=0.68046, Revenue=+48.97$
On February 24, there have been new promote indicators however the market wasn’t corrected, so the pending orders have been deleted and there have been no extra trades on AUDUSD this week.
Thus, the Owl Sensible Ranges technique obtained an ideal outcome on AUDUSD for the ninth week of 2023 with 4 out of 4 constructive trades.
The entire results of the week is +28.3% revenue.
Whole on the finish of the ninth week of 2023 +28.3% revenue at 1.5% danger per commerce. I believe it is a very respectable outcome.
Obtain the Owl Sensible Ranges Indicator and examine this outcome your self making use of all of the buying and selling guidelines in response to the Instruction for the Owl Sensible Ranges Indicator.
I am Sergei Ermolov, observe me and do not miss extra helpful instruments for worthwhile buying and selling on Forex.
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