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CL should 1.30pm or 4.15pmcst be used as end of day or both
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CL should 1.30pm or 4.15pmcst be used as end of day or both

  #1 (permalink)
Trading's simple not easy
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CL should 1.30pm or 4.15pmcst be used as end of day or both

Hi all
To the CL guru's
which end of day should be used for the close, end of open cry or 4.15pmcst or both?
does London open need to be included, that is when i trade here in OZ early to late evening,

cheers Angelo

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  #3 (permalink)
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Angelo1 View Post
Hi all
To the CL guru's
which end of day should be used for the close, end of open cry or 4.15pmcst or both?
does London open need to be included, that is when i trade here in OZ early to late evening,

cheers Angelo

There is no right or wrong answer to this. The settlement is at 1:30CST, but the end of trading is 4:15CST. In other words, you are not really asking a question that can be answered. Can you give some more information for what you are trying to accomplish?

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  #4 (permalink)
Trading's simple not easy
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josh View Post
There is no right or wrong answer to this. The settlement is at 1:30CST, but the end of trading is 4:15CST. In other words, you are not really asking a question that can be answered. Can you give some more information for what you are trying to accomplish?

Hey Josh,

I'm trying to simply set up a chart & use some important S/R & H/L plus open & close,
which one does one use 1.30 or 4.15pm as end of day, if there is a valid reason for either i'll go with that,

I've since understood that the volume is less after 1.30, so it would seem more valid than the 4.15,

one more confusing issue is the Monthly CL ##-## instrument is completely different to the CL 01-13, why is that, ?

Angelo

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Angelo1 View Post
I'm trying to simply set up a chart & use some important S/R & H/L plus open & close

Okay--but consider why you think the close or open is important in the first place; what do they represent? Why does anyone care? Based on that evaluation, this should tell what you need to care about, and why. Sometimes people just plot these metrics without understanding their significance. If you understand the significance, it can be used as a tool in your trading.

That being said, I would only care about the settlement price at 1:30 CST.


Angelo1 View Post
one more confusing issue is the Monthly CL ##-## instrument is completely different to the CL 01-13, why is that, ?

How is it completely different? Who is your data provider? If you are talking about monthly bars, you probably mean that past months look very different on January than the continuous contract (##-## I assume in NT). This is because the continuous contract splices together contracts for many years. So the March 2009 portion of the continuous contract will match what was trading around February of 2009 (though if it's back-adjusted the absolute prices traded will not match). But back in February 2009, the January 2013 contract was active and could be traded, but there was probably only a few contracts traded for the whole year 2009. So, when you see the January 2013 contract now, you may see a tick or two many months back, but that's about it. Activity only picks up in the contract as it gets to be a month or two out from the front month. Perhaps this is what you're talking about.

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