Bytebodger............thanks for posting this. How would you use this data?
In the past we have discussed 'retrace' in the context of what happens after the Daily candle opens and the Fozzy cross signals a profitable trade. How much does the price 'retrace' before it turns around and heads in the right direction? This value can be used to establish a workable S/L for each pair that will consistently keep us in a good trade and minimize the loss in a non-profit trade.
In the past we have discussed 'retrace' in the context of what happens after the Daily candle opens and the Fozzy cross signals a profitable trade. How much does the price 'retrace' before it turns around and heads in the right direction? This value can be used to establish a workable S/L for each pair that will consistently keep us in a good trade and minimize the loss in a non-profit trade.
DislikedThis isn't really a Fozzy subject, but I have read several times in this thread where people were wondering how much retracement is exhibited by pairs on a daily basis. I completed analysis today that gives me some concrete numbers. For each pair, I first calculated the average range (day's high minus day's low). Then I determined each pair's retracement value. If the pair closed down (closing price lower than opening price), then I considered the retracement to be the day's high minus the day's opening price. If pair closed up, I considered the retracement to be the day's opening price minus the day's low. The following values were calculated based on data going back to 1998 for all of the major crosses. Some of the minor crosses only had data going back a few years.
Hope this is helpful...Ignored