| Lone Cedar - 10/15/2018 17:24
Just trying to learn here... is roll date consistent with all continuous charts? To me (being admittedly rather ignorant) it seems strange to pick out an anchor point that is created by the roll date, because if that roll on the continuous chart were to happen a few days sooner or later, it would drastically change the midpoint and slope of the fork (right?).
From what I'm looking at it appears the upper corner of the OP's fork is 8-20 on ZCZ. ZCZ had higher points on both of the previous two trading days (8-16 and 8-17) as well as "outlying" highs 8-7, 7-31, 5-24. How do you decide the 8-20 one is the most valid? Just because someone decided that was the best day to make the roll on a continuous chart?
Hi Cedar,
Roll dates are not consistent between data providers. Some roll at expiration. Other's roll when the volume rolls. Still other's choose a certain date to roll. This causes issues with people trying to make lines match. In reality, all charts are leading you to the same place. FWIW, my continuous daily looks nothing like his.
IMHO, you are falling into the trap of over thinking it. You literally tie yourself into knots fussing about this and that. Just understand that there are no accidents in price. If there is a gap someplace, it is there because it needs to be there. If one data feed has it, another doesn't - quit comparing. Whether it was a roll or not is irrelevant. As a general rule, you pick the pivot extremes to anchor your lines on. Now...to really confuse you, a gap is actually three pivots. The high, low, and midpoint can be uses to anchor on. It becomes up to you how you define a gap. On a gap higher, is the low of the gap the high anchor, or is the open your anchor if they aren't the same? That is in the eye of the beholder.
Take Care
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Target at $3.80 ZCZ18
