At this time 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 July 24 to twenty-eight, 2023. There have been open in complete 8 trades on all three foreign money pairs.
For comfort and well timed receipt of alerts I exploit the Owl Good 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.
The Owl Good Ranges indicator gave the primary sign to open a commerce on EURUSD for promoting on Tuesday afternoon.
Fig. 1. EURUSD SELL 0.14, OpenPrice = 1.10417, StopLoss = 1.10522, TakeProfit = 1.10077, Revenue = -$15.
The commerce was closed at StopLoss and introduced a lack of $15.
The market spent the entire Wednesday and the primary half of Thursday within the lifeless zone, after which it spiked greater than 1000 factors in lower than 2 hours.It must be stated that generally the market behaved fairly unpredictably, however, what is very dangerous, it was not so clearly seen, besides, maybe, for the above-mentioned peak.
However, the second commerce on EURUSD, additionally opened for promoting, turned out to be unprofitable.
Fig. 2. EURUSD SELL 0.10, OpenPrice = 1.09721, StopLoss = 1.09902, TakeProfit = 1.09133, Revenue = -$17.5.
The commerce closed on StopLoss and Owl Good Ranges, sadly, could not warn about it resulting from uncommon market volatility.
The primary commerce on the asset GBPUSD the indicator Owl Good Ranges supplied to open for promoting on Monday afternoon.
Fig. 3. GBPUSD SELL 0.05, OpenPrice = 1.28534, StopLoss = 1.28824, TakeProfit = 1.27596, Revenue = $11.69.
This commerce turned an instance of how the sign given in time concerning the change of worth motion and the need to shut it “manually” helped not solely to cut back the loss, but additionally to get a small revenue.
The indicator prompt to open the subsequent commerce on Wednesday, additionally in the course of the day.
Fig. 4. GBPUSD BUY 0.13, OpenPrice = 1.29049, StopLoss = 1.28937, TakeProfit = 1.29413, Revenue = -$3.75.
And on this case the loss was decreased to the very minimal, additionally by closing the commerce “manually” based on the indicator’s prompting.
On Thursday within the afternoon the market was within the lifeless zone and the subsequent commerce, opened for promoting, happened on Friday morning.
Fig. 5. GBPUSD SELL 0.09, OpenPrice = 1.27884, StopLoss = 1.28055, TakeProfit = 1.27330, Revenue = -$15.
Plainly after the USD leap, in addition to after the EUR/USD market 1000 factors drop (the screenshot, because it appears by the point, exhibits a parallel state of affairs), the pair foreign money restored its worth in a approach that’s not fairly “clear” for the indicator, and in each instances it failed to offer an accurate sign, in addition to to warn about closing the commerce.
On Friday afternoon the market was within the lifeless zone, and there have been no extra trades on the asset.
On Monday within the afternoon the market was within the lifeless zone, and on Tuesday morning the indicator already gave a sign, and the commerce was opened.
Fig. 6. AUDUSD BUY 0.19, OpenPrice = 0.67619, StopLoss = 0.67542, TakeProfit = 0.67869, Revenue = -$8.77.
Right here the Owl Good Ranges gave a sign in time concerning the necessity to shut the commerce and the loss was minimized.
However on the subsequent commerce it couldn’t be accomplished.
Fig. 7. AUDUSD BUY 0.12, OpenPrice = 0.67970, StopLoss = 0.67845, TakeProfit = 0.68372, Revenue = -$15.
There was no reversal of the large arrow and the commerce was closed at StopLoss.
The final commerce of the buying and selling week was opened at midday on Friday.
Fig. 8. AUDUSD SELL 0.10, OpenPrice = 0.66507, StopLoss = 0.66689, TakeProfit = 0.65917, Revenue = -$12.79.
In addition to nearly all trades of the week, it turned out to be unprofitable, however right here the loss was barely minimized because of the Owl Good Ranges trace.
Final buying and selling week there have been 8 trades and solely certainly one of them turned out to be worthwhile. The trades had been opened in several instructions, however the market state of affairs this time, frankly to say, outplayed the Owl Good Ranges indicator resulting from its, although not so pronounced, however excessive chaotic nature. Most definitely, the market chaoticization occurred as a result of inconsistency with the forecasts of a lot of information, reminiscent of:
- German Manufacturing Enterprise Exercise Index (PMI) (EUR),
- UK Manufacturing Enterprise Exercise Index (PMI) (GBP),
- U.S. Companies Sector Enterprise Exercise Index (PMI) (USD),
- New Dwelling Gross sales (June) USA (USD),
- US Crude Oil Inventories (USD),
- German GDP (Q2) (EUR).
All of those information had been beneath the forecasts. And even when we’re not speaking about some spectacular and excessive occasions and large volatility out there, nonetheless, the general impact of market chaotization was such that the Owl Good Ranges indicator didn’t have time to answer such a quickly altering market.
Consequently, we obtained an unsatisfactory consequence this week. To be honest, because the starting of this spring just one buying and selling week from Might 08 to 12 with the results of -45.86$ has been unprofitable up to now. The anti-record was overwhelmed final week, however this type of market chaotic conduct is sort of uncommon, and let’s hope it will not occur once more.
We are going to see how the buying and selling will appear to be and the way the market will behave, which trades the Owl Good Ranges indicator will provide to open on Monday in the course of the upcoming buying and selling week.
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I am Sergei Ermolov, comply with me and do not miss extra helpful instruments for worthwhile buying and selling on Forex.