How quickly & far can a currency change direction | Forex Factory

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How quickly & far can a currency change direction

  • #1
  • First Post: May 24, 2009 7:50pm May 24, 2009 7:50pm
hi

How quickly & far can a currency change direction....

what memorable occurances have happened in the past?
  • #2
  • May 24, 2009 9:46pm May 24, 2009 9:46pm
what's the intent of the question?

a currency pair can turn instantly and go for 1,000's of pips but i'm not sure what this info will do for you.

it can also turn slowly and not go very far but just range
taking series 3 and 34
  • #3
  • May 25, 2009 1:11am May 25, 2009 1:11am
News can instantly change the direction of any paircommoditystock index.
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  • #4
  • May 25, 2009 4:50am May 25, 2009 4:50am
on the 18. march of this year the eur/usd had one of his biggest news movements(may be the biggest, dont know...), i believe it was the FOMC Statement. price moved more than 200 pips in a very short time and a few minutes later it moved another 100pips up. the daily range was more than 500pips that day.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 18_03_2009 (1 Tick).png Size: 58 KB
  • #5
  • May 25, 2009 4:59am May 25, 2009 4:59am
Here's another case of a big move after the SnB made an intervention. Shows the importance of proper use of stop loss.
Attached Image (click to enlarge)
Click to Enlarge Name: chf.gif Size: 14 KB
Measure twice, cut once
  • #6
  • May 25, 2009 5:07am May 25, 2009 5:07am
It could move alot for some exotic and cross pairs.
  • #7
  • May 25, 2009 1:08pm May 25, 2009 1:08pm
Look at charts.. last September,fall of 2006,or around hurricane Katrina times for starters.

There is a very good reason I cancelled my planned holidays last fall.....
The harder I work,the luckier I get.
  • #8
  • Last Post: Edited 4:13am May 27, 2009 4:02am | Edited 4:13am
thanks guys thats what i was looking for!
some interesting occurances!

i was sorta asking was there any bigger drops/rises, would it be possible

i think ive answered my own question, it would but extremly unlikely?

anyway im wondering how big to set an "emergency stop loss"
i dont really want to set any but as im concerned about "stop hunting"
and was considering not having any stop loss as it seems i dont need one
is it really always that unwise not having a stop loss? i have read that others do not use them also

so basically is there anyway of COMPLETELY avoiding stop hunting?
bar the obvious which is not having a stop!
(should i look to a new thread or existing thread on this topic?)
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