SmartFinanceData

AUD/CAD: Daily Open Range Figures

Explore AUD/CAD's Daily Open Range Figures, spanning August 27th, 2001 to January 1st, 2023. Learn the frequency and probability of daily Highs & Lows forming within a certain distance (in pips) from the Open. These insights can help you set tighter, data-backed stops and assess the remaining potential of each days price movement based on historical patterns.

Dataset Overview
  • Average Trading Volume: 92074
  • Start Of Data Range: 27 August 2001
  • End Of Data Range: 01 January, 2023
  • Highest Closing Price: 08 February 2012 (1.07504)
  • Lowest Closing Price: 08 October 2008 (0.7487)
  • Day With Largest Gain: 13 October 2008 (5.84%)
  • Day With Largest Loss: 06 October 2008 (-5.46%)
  • Week With Largest Gain: 13 October 2008 (5.84%)
  • Week With Largest Loss: 13 October 2008 (5.84%)
  • Day With Highest Volume: 10 October 2012 (1032184)
  • Day With Lowest Volume: 01 January 2018 (5271)
Volatility Statistics
  • Mean: 0.002%
  • Median: 0.011%
  • Mode: 0.000%
  • Standard Error: 0.007%
  • Standard Deviation: 0.56%
  • Sample Variance: 0.003%
  • Kurtosis: 6.56
  • Skewness: -0.13
  • Range: 9.686%
  • Minimum Price Change: -4.802%
  • Maximum Price Change: 4.883%
  • Daily Close Bullish Probability: 52.3% (2985/5730 Days)
  • Daily Close Bearish Probability: 47.8% (2729/5730 Days)
Bullish Days
  • Daily Lower Low Probability: 29.48% (880/3985 Days)
  • Daily Higher Low Probability: 69.88% (2086/3985 Days)
  • Daily Lower High Probability: 30.82% (920/3985 Days)
  • Daily Higher High Probability: 68.74% (2052/3985 Days)
Bearish Days
  • Daily Lower Low Probability: 67.57% (1844/2729 Days)
  • Daily Higher Low Probability: 32.25% (880/2729 Days)
  • Daily Lower High Probability: 70.03% (1911/2729 Days)
  • Daily Higher High Probability: 29.98% (791/2729 Days)
  • Total Bullish Days In Dataset: 2955/5730
  • Total Bearish Days In Dataset: 2729/5730
Dataset Totals
  • Number Of Bullish Weeks: 629 (629/1231)
  • Number Of Bearish Months: 602 (602/1231)
  • Number Of Bullish Months: 133 (133/283)
  • Number Of Bearish Months: 150 (150/283)
Dataset Totals
  • Total Number Of Days: 5730
  • Total Number Of Weeks: 5730
  • Total Number Of Months: 5730
  • Total Number Of Years: 22

Bullish Day Open-Low/High Range🛎️

The tables below outline the probability of bullish days forming a High or Low within a specific pip distance from the Open. Use the Open - Low Range to set effective stops and the Open - High Range to gauge the remaining potential of daily price moves. Check the "% Rolling" column to see the probability of price forming a Low or High under a given range from the Open.

🚨 Set your stop loss 50 pips below the Open price on bullish days.

Given that 92.12% of bullish days form a low within 50 pips of the Open, this offers high chance (92.12%) your stop loss won't be hit, minimizing stop outs unnecessary exits.

🚨 If you're comfortable with a slightly higher risk, consider setting your stop loss 40 pips below the Open. This provides a balance between protecting your capital and allowing the trade room to breathe.

🚨 The higher price rises, the less chance of further up-movement.

80.17% of bullish days form a high within 40 pips of the Open. This means buying after a 40 pip rise gives you only a 19.83% chance of profiting from any further up-movement during the day.

🚨 If you're already holding a position open or trade intra-day, consider taking partial or full profits once price moves 40 pips or more from the open. Price is far more likely to retrace than continue rising.

🚨 Most large bullish price moves tail off and close beneath the daily high.

80.17% of bullish days close within 50 pips of the Open, but only 64.51% of days form a high within 50 pips of the open. So, price rises much further than it closes during bullish days.

🚨 This data further highlights why taking profits at the peak of large bullish days is so important. It also means fading large rises can provide profitable bullish scalps.

The table above shows 75.96% of all bullish days form a high within 120 pips of the opening price. When price approaches or surpasses the 120 pip mark above the open, it suggests a significant portion of the day's upward potential may have been realized, and profit taking may soon begin.

NOTE: This doesn't mean price can't continue higher, but the majority (75.96%) of bullish days have historically formed a high below 120 pips.

Key Trading Takeaways:

1) Use the 120 pip level as a potential profit-taking trigger on bullish days (only 24.04% of days close higher!)
2) Be cautious about chasing further gains if a high forms 120 pips from the open.
3) Consider adjusting profit targets or tightening stop-loss orders if price forms a high 120 pips away.
4) Use the distances to help time reversals at key technical points (SD Zones/Psychological Levels).
5) If price moves 80 pips from the open, the high holds around a 50/50 chance of breaking or holding (53.10%)
6) Don't secure profits unless price moves at least 40 pips from the Open: Only 18.78% of days form a high lower.

Bearish Day Open-High/Low Range🛎️

The tables below outline the probability of bearish days forming a High or Low within a specific pip distance from the Open. Use the Open - High Range to set effective stops and the Open - Low Range to gauge the remaining potential of daily price moves. Check the "% Rolling" column to see the probability of price forming a Low or High under a given range from the Open.

🚨 Set your stop loss 80 pips above the Open price on bearish days.

Given that 92.12% of bearish days form a high within 50 pips of the Open, this offers high chance (92.12%) your stop loss won't be hit, minimizing stop outs unnecessary exits.

🚨 If you're comfortable with a slightly higher risk, consider setting your stop loss 40 pips above the Open. This provides a balance between protecting your capital and allowing the trade room to breathe.

🚨 The lower price falls, the less chance of further down-movement.

80.17% of bearish days form a low within 40 pips of the Open. This means selling after a 40 pip decline gives you only a 19.83% chance of profiting from any further down-movement during the day.

🚨 If you're holding a position open or trade intra-day, consider taking partial or full profits once price moves 40 pips or more from the open. Price is far more likely to retrace than continue falling.

🚨 Most large bearish price moves tail off and close above the daily low.

80.17% of bearish days close within 50 pips of the Open, but only 64.51% of days form a low within 50 pips of the open. So, price falls much further than it actually closes during bearish days.

🚨 This data further highlights why taking profits at the peak of large bearish days is so important. It also means fading large declines can provide profitable bearish scalps.

The table above shows 75.96% of all bullish days form a high within 120 pips of the opening price. When price approaches or surpasses the 120 pip mark above the open on a bullish day, it suggests a significant portion of the day's upward potential may have been realized.

NOTE: This doesn't mean price can't go higher, but the majority (75.96%) of bullish days have historically formed a high below 1200 pips.

Key Trading Takeaways:

1) Use the 120 pip level as a potential profit-taking trigger on bullish days (only 24.04% of days close higher!)
2) Be cautious about chasing further gains if a high forms 120 pips from the open.
3) Consider adjusting profit targets or tightening stop-loss orders if price forms a high 120 pips away.
4) Use the Open - Low distance to help time reversals at key technical points (SD Zones/Psychological Levels).
5) If price moves 80 pips from the open, the high holds around a 50/50 chance of breaking or holding (53.10%)
6) Don't secure profits unless price moves at least 40 pips from the Open: Only 18.78% of days form a high lower.

FAQ: Your Top Questions Answered!

Find answers to your top questions about our AUD/CAD dataset below. Need more in-depth help about the charts and datasets presented? Contact us directly – we're always happy to support your trading journey! <a