Bullish Day Open → Low Range · Drawdown Analysis

GBP/NZD Bullish Dips
Open–Low Range Distribution

How deep does price retrace on bullish days? Analyse 2,971 bullish sessions across 24+ years. Essential for stop placement & dip-buying strategies.

Updated 31 Mar 2026 n = 2,971 Bullish days only
Sample
2,971
Bullish days analysed
Peak Zone
11.01%
100–200 pip drawdown · most frequent
Avg Range
633.4
Avg open → low pips
Cumulative
51.6%
Lows within 500 pips
Raw Data

Open–Low Range Distribution

Range (Pips)Days% of TotalDistributionRolling %

Rolling % = cumulative probability of low being at least that far below open on a bullish day.

Probability Curve

Cumulative Drawdown Probability

69.5% of bullish days: low within 800 pips
89.3% within 1500 pips — contained risk
Frequency Chart

Drawdown Distribution Histogram

2,971 bullish sessions

Peak at 100–200 pips (11.01%) — typical retracement zone before continuation.

Observations

Key Trading Insights

Kiwi Dips

52% within 500 pips

Dairy-driven pullbacks stay shallow — ideal for tight stops on strong trends.

Peak: 100–200

11.01% — stop hunter's dream

Highest density zone; place protective stops beyond 250 pips to avoid noise.

Contained Risk

89% within 1500 pips

Most dips remain manageable; reward/risk can be optimised on mean reversion.

Blowouts

10.74% over 1500 pips

Deep retracements occur during NZD stress — scale into longs only with macro confirmation.

Strategy Framework

📈 Trading Application: Protect Longs

Kiwi calm = shallow dips. Use data-driven levels for entries and stop losses.

Stops 150–280 pips

Below open

Place initial stops 150–280 pips below open to avoid 100–200 pip peak zone.

Trail under 600 pips

On strength

Once price moves >600 pips, trail stops aggressively — only 21% of dips exceed 600 pips.

Buy dips 300+ pips

Mean reversion edge

50% of dips exceed 300 pips; add to longs when macro supports GBP strength.

Disclaimer: Past performance not indicative of future results. Monitor UK retail sales & NZD commodity exposure. Correlation with NZD/JPY: −0.54 (risk-on shifts)
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Data Hub

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