I have no argument with Cristian here. However, my goal is to walk away with a profit each day, so I look at things from an intraday rather than day-to-day perspective. So with that in mind, here’s my take on Moreno’s Daily Call… AUDCAD’s intraday trend as of the close Friday was bearish, which would suggest delaying entering a long position until the intraday trend reverses. Structurally however, at 0.9592 the pair is about 30 pips away from a statistical support level located at 0.9565, followed by one of even greater significance located at 0.9520. Consequently, entering a long position following the next buy signal (if only on a temporary basis) would more than likely turn out to be a profitable trade, even given the pair's current bearish intraday sentiment. The asset has humongous statistical support at 0.9476 that gets absolutely monstrous at 0.9424, so entering a long position following a reversal to the north anywhere within the 164 pips between the rate’s current location at 0.9592 and where my forecast model calculates ultimate support at 0.9424 would seem to be an absolutely sensible move to make! (This is not a recommendation. I do this simply as an exercise and for my personal entertainment.)
Not only was entering a AUDCAD long position following the next buy signal profitable on a temporary basis, the rate has continued to climb to the point that the intraday trend is now bullish.
I just found this forum. I cannot tell you how bizarre it is to have someone talking about my analysis in this manner. I hope you have made money! Also, you remind me that I need to change that pic - I lost 50 lbs and look like a fat bastard in it. Also, I read somewhere in this thread that you hadn't seen me at FX Empire at one point, I don't know why - I have been delivering to them for about 8 years now. I also work at Daily Forex for what it is worth..... Chris