Joined: 17 Apr 2011
|Posted: Sat Aug 13, 2011 3:35 pm Post subject: Sunday bars
|(this is a repost of my question; it was added to a years old discussion before; am afraid it will get lost that way)
Please tell us EXACTLY what the Sunday data represents.
I can only imagine two things: the early morning trade in Auckland and Sydney which is still Sunday in London or GMT time.
Most of the forex companies I know "close the daily bars" at NY closing.
But Friday New York closing is Friday 22.00 PM London time. So Friday trading can never be the explanation.
Or maybe the weekend trading moves? (do not believe that myself).
A previous poster stated the Sunday data was added to the PREVIOUS week.
But in my view the "Sunday data" should not be added to the PREVIOUS week but to the NEXT week, unless there is another explanation for the Sunday data.
Why this is not details but important: everything we do is based on the data we download. If you do not know exactly what data you are using then you do not know at what results you are looking.
Most of the time the "Sunday data" will have no big changes. But with a financial crisis in Europe, a possible defaulting in the US, an earthquake and a nuclear disaster in Japan, all in 6 months time, I would never be so sure it will be always like that.