what is the hihgest pips so far that GU has ever moved before retracing?
Too vague a question. What do you define as a retracement? 1 pip, 2 pips ,10, 100?
To extend on Keith's point .
There are 2 directions the Pound could have moved before retracing but there's a thousand reasons why .
So first ,hypothetically , you'd have to classify moves of the past .
Then you'll run into another dilemma , will you ignore small retracements if you are working with real tick past data , or , will you assume there are none if you are working with OHLC.
Then you'd have to classify the current move , go back in your database ,find what it resembles and retrieve the expected run before and the retracement size .
And finally you'll decide if the move will be exactly this size or should you adapt by recording % instead of points .
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