You may have seen there are countless articles on the web declaring engulfing strategies are a sure bet and offer high probability trade opportunities. But does this approach really work? In this article I will do a thorough analysis of the data to prove if this method really stacks up.
The ideas I'm sharing here helped me to generate consistent profits over several years and helped me become one of the top Trade Leaders in Currensee. Contrarian trading in a nutshell means profiting from crowd behavior.
This system is for trading fake (false) chart tops & bottoms. I call this a contrarian strategy because the trade entry opposes most technical indicators. I’ve used this day trading strategy to produce profitable short-term trades on GBPUSD, EURJPY, AUDJPY, and EURUSD.