As we speak 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 April 3 to 7, 2023. It was a brief week as a result of the monetary markets within the U.S., Britain and lots of European nations didn’t work on Friday due to Good Friday.
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 verify the development route of the upper timeframe.
EURUSD evaluation
The market spent Monday within the useless zone, and the indicator supplied to open the primary commerce on Tuesday in the midst of the buying and selling day.
Fig. 1. EURUSD BUY 0.07, OpenPrice = 1.09040, StopLoss = 1.08828, Take Revenue = 1.09728, Revenue = $48.68.
The volatility was fairly excessive and the market began to maneuver downwards, concentrating on the StopLoss stage, however “modified its thoughts” and took by storm the TakeProfit stage.
Generally, there have been no extra trades on EURUSD, and the chart spent Thursday within the useless zone.
GBPUSD evaluation
On Monday afternoon the market was within the useless zone, and later, even when the indicator confirmed a sign to open one or two trades, they needed to be cancelled resulting from change of the market route and closed manually, and the uncommon indicators needed to be skipped ready for the closing of the present commerce which was cancelled afterwards.
The clear sign to purchase, on which the commerce was opened, was obtained on Thursday. However then there was a pointy fall in value, and the commerce was closed by StopLoss, bringing a lack of $15.
Fig. 2. GBPUSD BUY 0.08, OpenPrice = 1.24561, StopLoss = 1.24370, Take Revenue = 1.25179, Revenue = -$15.
AUDUSD evaluation
The commerce on AUDUSD was opened solely on Thursday. The sign of the Owl Sensible Ranges indicator on the market is proven in Fig. 3, in addition to the additional falling of the value with the crossing of TakeProfit stage.
Fig. 3. AUDUSD BUY 0.17, OpenPrice = 0.67006, StopLoss = 0.67095, Take Revenue = 0.66718, Revenue = $48.54.
The commerce was closed on TakeProfit and introduced a great revenue.
Many markets didn’t work on Friday as a result of vacation and there was no sense to commerce, even when there was a possibility to do it. Thus, there have been solely three trades in the course of the four-day buying and selling week.
Outcomes:
The week turned out to be quick, a bit chaotic, because it usually occurs earlier than a public vacation, and with a small variety of not solely trades, however even indicators. Nonetheless, buying and selling with the assistance of the Owl Sensible Ranges indicator was profitable.
Let’s examine what the subsequent week brings and the way the Owl Sensible Ranges performs.
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.
