As we speak 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 April 10 to 14, 2023. After the vacations, the market appeared to be in a state of “restoration”, two days of the week had been virtually swallowed up by the “useless zone” and there weren’t many trades.
For comfort and well timed receipt of indicators 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 substantiate the development route of the upper timeframe.
EURUSD overview
Monday had solely a few unconfirmed indicators, Tuesday and Friday the market spent within the useless zone, and regardless of a number of indicators there have been no trades opened based on the foundations of working with indicator.
GBPUSD overview
There have been no indicators on Monday, and the market spent Tuesday within the useless zone. The sign, on which the commerce was opened, was acquired on Thursday. Nonetheless the deal was loss-making and was closed by StopLoss.
Fig. 1. GBPUSD BUY 0.28, OpenPrice = 1.24871, StopLoss = 1.24817, TakeProfit = 1.25047, Revenue = -$15.
The subsequent commerce was additionally opened for getting and likewise failed, being closed by the market at StopLoss.
Fig.2. GBPUSD BUY 0.12, OpenPrice = 1.25146, StopLoss = 1.25006, TakeProfit = 1.25600, Revenue = -$17.50.
The market was within the useless zone on Friday.
AUDUSD overview
On AUDUSD forex pair a purchase commerce was opened on Wednesday. It needed to be closed “manually” after the large arrow of the Owl Sensible Ranges indicator turned down, when market volatility elevated. The revenue was minimal.
Fig. 3. AUDUSD BUY 0.07, OpenPrice = 0.66873, StopLoss = 0.66653, TakeProfit = 0.67585, Revenue = $4.43
The final commerce this week, which was additionally opened for getting, was closed by TakeProfit and it has introduced an excellent revenue, turning all the buying and selling of the final week into the revenue.
Fig. 4. AUDUSD BUY 0.11, OpenPrice = 0.66989, StopLoss = 0.66853, TakeProfit = 0.67427, Revenue = $48.31
Outcomes:
After an excellent revenue on trades opened because of the Owl Sensible Ranges indicator in February, on the development market, in March and April, on the worldwide flat market motion or “sideways” we are able to state a sure decline in profitability. The massive arrow of the indicator usually turns round and trades need to be closed “manually” with the intention to keep away from losses.
Nonetheless, with the TakeProfit dimension, greater than thrice the StopLoss dimension, buying and selling on the Owl Sensible Ranges indicator permits you to shut throughout such intervals of market exercise each week with a comparatively small however nonetheless revenue!
See different critiques of the Owl Sensible Ranges technique:
I am Sergei Ermolov, comply with me and do not miss extra helpful instruments for worthwhile buying and selling on Forex.
