DislikedAlthough everything changes all the time in the markets, some things remain the same - such as reversion to the mean, maximum adverse excursion, etc. This is what hedge funds trade, among other things.
If you were to chart the maximum move from highs to lows every day, you'll see that price only moves within a couple of standard deviations. Keep track yourself and you'll see that it holds true.
It's very rare for price to move 4 standard deviations or 6, say, unless there is a flash crash, or a 2008 liquidity lockup, or a black swan event which...Ignored
Observation is the path to discovery.