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julles

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Post Number: 1728
Registered: 01-2003

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Monday, August 21, 2006 - 10:50 pm:

Colin Robin and all ... Today I made a trade based on the charting information provided to me via my subscription.

The market turned at a particular point today and on another forum someone spoke of the gap.

I thought What Gap ? So I went searching and low and behold there was a gap that needed to be filled.

The Gap formed and should have been represented on Friday 14th July.

I know most charting programmes follow the xjo xao etc. on the open close continuing. Why is it this person called the gap and the gap did get filled and I did find the gap on another charting programme?

Can you fix it? I want to see the gaps it's important withing my trading plan.

I simply would not have taken that trade today if I had of known that the xjo was possibly reversing it's trend to fill that GAP.

I'm totally disappointed that the IC (you guys) did not show me that.

Julles

colin_twiggs

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Post Number: 2611
Registered: 09-2002

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Tuesday, August 22, 2006 - 10:53 am:

Julles,
I seem to recall Mosaic raising this earlier.

The ASX provide The daily High, Low and Closing price for indices such as the XAO and XJO, but do not provide an opening price (for indices) because of the staggered start. Most datafeeds cope with this by taking the Open as the Close from the previous trading day. Subscribers to a live index feed may be presented with a first price for the day but this is not the true Open (for the reason stated earlier).

Regards,
Colin

captain_chaza

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Post Number: 2094
Registered: 02-2003

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Tuesday, August 22, 2006 - 02:11 pm:

Ahoy Sea-Cadet Cadet Officer Braveheart SCO Braveheart

As the Admiral has mentioned Indices are staggered over the first ~20 mins at the open and therefore unreliable data

It is hard enough to sail any one share with reliable opening data than to try and bundle any number of them into an index and then try to sail this chaotic mass of misinformation

It surely is a recipe for disaster!

Any sound trading plan should then avoid this chaos and confusion at dawn each day

In Nautical speech I just call them "Un-saeworthy" and leave it to the Landlubbers and paper traders to fight it out

As you know
"Safety at Sea is Paramount"

Bon Voyage and Gods' Speed
capn

PS just compare XAO, XJO with say BHP,RIO, LHG, OXR,ZFX
to see true opening Gaps

"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.

"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893

"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897

julles

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Post Number: 1730
Registered: 01-2003

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Tuesday, August 22, 2006 - 02:27 pm:

Oky dok's I just do hope we haven't come back up on the xjo to simply fill that gap!

perler59

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Post Number: 862
Registered: 09-2003

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Tuesday, August 22, 2006 - 09:23 pm:

Hi Julles. Yahoo 3 month daily candle chart shows the gaps.

http://au.finance.yahoo.com/q/bc?s=%5EAXJO&t=3m&l=on&z=m&q=c&c=

Perhaps they call the "open" as the instant the "Z" stocks start trading?

(Message edited by perler59 on August 22, 2006)

http://sttc.net.au/~stever

julles

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Post Number: 1731
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Wednesday, August 23, 2006 - 05:21 am:

Perler now you've got me really thinking about it could it be based on the futures trading? The futures market closes for a short time of day, I'm not sure for how long at all but it's possible that that gaps can be formed on the spi due to open close figures?

Colin would this be the reason live feed data show's gaps on the indices?

fibonacci

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Post Number: 156
Registered: 10-2003

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Wednesday, August 23, 2006 - 07:15 am:

Now that would be a SENSIBLE idea.

That's enough to prevent "authorities" from going that way especially if a committee has to decide.

Even so, anyone else like the idea for IC?

John

You've got to
know when to hold 'em
know when to fold 'em.

fibonacci

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Post Number: 157
Registered: 10-2003

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Wednesday, August 23, 2006 - 07:18 am:

Sorry all, my previous post was in reference to Perlers chart.

John

You've got to
know when to hold 'em
know when to fold 'em.

perler59

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Post Number: 863
Registered: 09-2003

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Wednesday, August 23, 2006 - 09:24 am:

Thanks Fibbo :-)

Julles, Yahoo don't use futures data because its "Wild". At 10:00AM on what appears will be a down day, the futures will often be trading below what turns out to be the low for the day in the physical market. I haven't used IC for ages but I believe it can now import data from Yahoo? If so, you can import ^AXJO

http://sttc.net.au/~stever

julles

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Post Number: 1732
Registered: 01-2003

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Thursday, August 24, 2006 - 01:07 pm:

Thanks Perler, I've just got to remember to import!

I sold my call yesterday as I simply didn't like the look of that Gap and phwehhhh so glad I did, as suspected we were simply heading up to close that gap.

Safe trades Julles

msparks

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Thursday, August 24, 2006 - 10:10 pm:

froggy

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Post Number: 14
Registered: 06-2006

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Friday, August 25, 2006 - 07:50 pm:

HI MS, CAN YOU TELL ME HOW YOU LOAD THE AXJO CHART FROM YAHOO. I CAN LOAD EVERY STOCK EXCEPT AXJO. THANKS.

JEAN

msparks

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Post Number: 669
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Friday, August 25, 2006 - 08:40 pm:

OK
go to securities at the top next to file, then click on load symbol from yahoo in the drop down box

type in the symbol or copy paste from perlers above

my fee - is the best pic ya got for this week, i am desperate to get just one winning trade.

froggy

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Post Number: 15
Registered: 06-2006

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Saturday, August 26, 2006 - 06:57 am: