Review of trades of the Owl Smart Levels strategy for the week from July 17 to 21, 2023 – My Trading – 23 July 2023

Today I present you an overview of trades made using the Owl strategy – smart levels for the EURUSD, GBPUSD and AUDUSD currency pairs for the week from July 17 to 21, 2023. A total of 6 trades were opened in all three currency pairs.

Only 3 trades were opened on two of the three currency pairs. The Owl Smart Levels indicator offered a few more trades, but they occurred at night time, in which we do not trade according to local rules.

EURUSD review

The Owl Smart Levels indicator gave the first signal to open a EURUSD Sell trade only on Thursday morning.

Fig. 1. EURUSD SELL 0.17, OpenPrice = 1.12188, StopLoss = 1.12276, TakeProfit = 1.11904, Profit = $48.41.

The trade was closed at TakeProfit and made a profit of $48.

The market spent the first half of Friday in the dead zone and there were no more trades on EURUSD.

GBPUSD review

The market spent Monday and the beginning of Tuesday in the dead zone, and Owl Smart Levels offered to open a Buy trade only on Wednesday morning.

Fig. 2. GBPUSD SELL 0.15, OpenPrice = 1.30264, StopLoss = 1.30363, TakeProfit = 1.29946, Profit = $48.18.

The trade was quickly closed at the TakeProfit level and brought so popular with the Owl Smart Levels indicator the amount of profit of $48.

The indicator offered to open the next trade on the same day.

Fig. 3. GBPUSD SELL 0.07, OpenPrice = 1.28987, StopLoss = 1.29187, TakeProfit = 1.28339, Profit = -$15.

The trade closed in the negative, and unfortunately, this time the indicator gave a signal to close it manually almost at the StopLoss level.

The fourth trade, which was opened for selling, like all the trades of the previous week, took place on Thursday evening, at the end of the trading day.

Fig. 4. GBPUSD SELL 0.11, OpenPrice = 1.28652, StopLoss = 1.28817, TakeProfit = 1.28120, Profit = -$4.35.

Here the signal to close the trade was given by the indicator in time and the loss was minimal.

On Friday in the first half of the day the market was in the dead zone, and the last trade on the asset was opened in the second half of the day.

Fig. 5. GBPUSD SELL 0.10, OpenPrice = 1.28478, StopLoss = 1.28683, TakeProfit = 1.27814, Profit = -$9.66.

Just like in the previous trade, the signal was given in advance and the loss was minimized.

AUDUSD review

One trade was made on AUDUSD asset. On Monday and Tuesday the market was in the dead zone, and the only trade was opened on Wednesday in the second half.

Fig. 6. AUDUSD SELL 0.09, OpenPrice = 0.67802, StopLoss = 0.67965, TakeProfit = 0.67274, Profit = $8.01

The trade is notable for the fact that, although it had to be closed in order to minimize losses due to the reversal of the indicator's big arrow, this time the Owl Smart Levels, as if correcting some previous clues, gave a signal so far in advance that, closing the trade manually, we managed not only to minimize the loss, but also to stay in the plus and keep the minimum profit of $8.

Results:

So, 6 trades took place during the last trading week. All trades were opened for selling. Two of them were classically closed by TakeProfit with a good profit of $48 and one with a small profit of $8. Three trades were closed at a loss: two at a small profit and one at a more tangible one. The profitability of profitable trades exceeded, as usual, more than three times the amount of losing ones, so the final table looks quite acceptable.

So, this week the result is not bad. Despite the fact that the market was clearly trending, it is not possible to earn a lot on every trending market. It still requires especially favorable volatility and predictable price movement trends, which is not so common lately.

We will see how trading will look like, how the market will behave, and what trades Owl Smart Levels will offer us to open on Monday, during the upcoming trading week.

I'm Sergei Ermolov, follow me and don't miss more useful tools for profitable trading on the Forex market.