Immediately I current you an summary of trades made utilizing the Owl technique – sensible ranges for the EURUSD, GBPUSD and AUDUSD forex pairs for the week from September 11 to fifteen, 2023. The market was fairly clearly undecided on the path of its motion, and solely 2 trades have been opened in complete.
For comfort and well timed receipt of alerts 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 pattern path of the upper timeframe.
On Monday and Tuesday the market was utterly within the useless zone. The Owl Sensible Ranges indicator gave the primary and solely sign to open a commerce on EURUSD solely on Wednesday night.
Fig. 1. EURUSD BUY 0.18, OpenPrice = 1.07345, StopLoss = 1.07261, TakeProfit = 1.07617, Revenue = -$8.93.
Having warned in regards to the change of market path by the reversal of the massive arrow, Owl Sensible Ranges provided to shut this commerce and saved cash by limiting the loss.
There have been no trades within the asset on Thursday and Friday.
On Tuesday and Wednesday the market was principally within the useless zone, and the indicator provided to open the one one commerce on GBPUSD solely on Friday afternoon.
Fig. 2. GBPUSD SELL 0.07, OpenPrice = 1.24228, StopLoss = 1.24445, TakeProfit = 1.23526, Revenue = $29.86.
The commerce, opened simply earlier than closing of weekly trades, needed to be closed in accordance with our buying and selling guidelines in handbook mode, regardless of the anticipated greater earnings.
And it was the final commerce.
All Tuesday, half a day on Wednesday and the second half of the day on Friday the market was within the useless zone, and there have been no trades on the asset in the course of the week.
So, there have been solely 2 trades over the last buying and selling week and each of them have been closed forcibly. One was worthwhile, the opposite was unprofitable. In depth useless zones and basic market uncertainty, which isn’t excellent for a pattern indicator, didn’t permit opening sufficient trades. Within the scenario with solely two trades made, the ultimate desk generally appears fairly good.
We are going to see how the buying and selling will appear to be and the way the market will behave, in addition to what trades can be provided to us to open Owl Sensible Ranges on Monday, in the course of the upcoming buying and selling week.
See different opinions 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.