Right this moment I current you an outline of trades made utilizing the Owl technique – good ranges for the EURUSD, GBPUSD and AUDUSD foreign money pairs for the week from August 28 to September 1, 2023. Markets have been extremely risky generally, however let’s speak about every part so as.
For comfort and well timed receipt of alerts I take advantage of the Owl Sensible Ranges Indicator. The primary buying and selling timeframe is M15, whereas the H1 and H4 timeframes are used to verify the development path of the upper timeframe.
EURUSD assessment
The Owl Sensible Ranges indicator gave the primary sign to open a commerce on EURUSD on Monday in the course of the day.
Fig.1 . EURUSD SELL 0.18, OpenPrice = 1.08117, StopLoss = 1.08199, TakeProfit = 1.07851, Revenue = -$15.
Sadly, the indicator didn’t have time to react to the market fluctuation, and the commerce was closed at StopLoss, bringing a lack of 15$.
The primary half of Tuesday the market was within the useless zone. The subsequent commerce was opened on Wednesday.
Fig. 2. EURUSD BUY 0.21, OpenPrice = 1.08625, StopLoss = 1.08543, TakeProfit = 1.08889, Revenue = -$11.74.
The reversal of the indicator’s massive arrow warned to shut the commerce and it saved a number of {dollars}.
The second half of Thursday the market was within the useless zone, and the following commerce was opened on Friday.
Fig. 3. EURUSD BUY 0.09, OpenPrice = 1.08503, StopLoss = 1.08315, TakeProfit = 1.09111, Revenue = -$17.50.
The screenshot clearly reveals how lengthy the candles are on the M15 timeframe and the way excessive the volatility is in a fairly giant vary, 4 candles from the extent elevate the value up and two candles decrease it again to the earlier mark down. On this scenario, the indicator didn’t have time to present a sign and the commerce closed at StopLoss.
GBPUSD assessment
The Owl Sensible Ranges indicator didn’t supply to open any trades on the GBPUSD asset, which most likely saved some cash on the extremely risky and unpredictable market. On Monday, Tuesday and Thursday the market was within the useless zone, and there have been no trades at different instances as nicely.
AUDUSD assessment
The market spent Monday within the useless zone, and Owl Sensible Ranges gave a sign to open a commerce for purchasing AUDUSD on Wednesday morning.
Fig. 4. AUDUSD BUY 0.12, OpenPrice = 0.64592, StopLoss = 0.64470, TakeProfit = 0.64986, Revenue = -$5.66.
The commerce was “canceled” in time by a giant arrow of the indicator and introduced a lack of a little bit greater than 5$.
On Thursday, the market spent a lot of the day within the useless zone, and no extra trades have been opened on the asset.
Outcomes:
So, on the final buying and selling week there have been 4 trades, which occurs very not often, and all of them have been unprofitable. Excessive volatility of the markets in two circumstances didn’t enable the indicator to present a well timed sign to shut trades, and in addition, what’s much more essential, didn’t give a possibility to decide on perspective entry factors. Effectively, August is historically a tough month in buying and selling, particularly its final week with the passing to September.
The ultimate desk of the final week seems, for instance, not the perfect, though we all know that there are not any 100% ensures in buying and selling.
How buying and selling will appear like and the way the market will behave, in addition to whether or not the Owl Sensible Ranges indicator will have the ability to cowl the loss for the following 5 buying and selling days, we’ll begin to observe on Monday within the upcoming buying and selling week.
See different evaluations 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.