Neil’s contrarian approach ONLY

Sadly Neils contrarian thread has led to one thing apart from the unique thought of the thread:

So this right here is for individuals who wish to comply with the unique, anybody who begins speaking about roofs and world foreign money charts will get banned.

With a slight exception to the unique system we wont be utilizing ANY paid websites i.e the scorpion website shouldn't be wanted.

The Methodology
Free Assets used:

Myfxbook: Free service offered by myfxbook to point out buying and selling quantity on foreign money pairs

Buying and selling view: It is overal simpler and cleaner to chart on buying and selling view charts than MT4, as much as you

Steps:

go to https://www.myfxbook.com/neighborhood/outlook

We wish THE OPPOSITE path to what retail is doing. As within the instance picture under for the USD/CHF.

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Connected Picture (click on to enlarge)

I purchased USD/CHF with this information.

We wish a proportion over 70% with a quantity lever of at the very least 5000 LOTS. This one is ideal and a very good commerce. Comply with this standards for many trades, 70% with a quantity greater than 5000 and take the other way of the retail majority.

Remember myfxbook is a very long time ranking.. You want a excessive % and excessive quantity. Something above 5000 quantity. I've seen one pair final months with a 90% and really excessive quantity.

Some pairs could have a 90% plus ranking however the quantity is so small it's going to go any approach. With the gang or in opposition to them.

Second a part of the technique: RSI interval 2 hlc3 on TradingView charts on the DAILY timeframe.

Open up a TradingView chart and add the RSI interval 2 HLC3 on the each day timeframe. Look ahead to the RSI to succeed in overbought and oversold areas. BUY WHEN THE RSI REACHES OVERBOUGHT AND SELL WHEN THE RSI REACHES OVERSOLD ONLY. The explanation for this? The sheep majority use the RSI as a promote indicator on overbought ranges and a purchase indicator on oversold ranges so we do the other BUT ONLY WHEN IT CONFIRMS WITH THE MYFXBOOK SENTIMENT LEVELS WE NEED. Pattern picture under.

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Thats it.

Credit score to Neil.

No different methodology dialogue right here other than this one otherwise you get banned.