May 6th, 2010. Wow. I was on my lunch break looking to scalp a few Euro pips during the typically quite afternoon. Then price dropped. And dropped. And dropped. I'm in a trading contest and had been up just over 50% in a few days. Got caught trying to find a bottom and gave back that 50%. Stupid. Anywho...
It's funny listening to the talking heads and writers come up with a why. The fat finger conspiracy theory is a good one. Interestingly enough, I brought up a chart I had created back in 2006. It's a Weekly DJI chart with a simple Price-Time grid like Pyrapoint. Using the impulse method I've showed recently, the Dow peaked beyond 360* of price just shy of 405*. The Mayday crash occurred beyond 360* of time just shy of 405*. I'm sure if I bring up more charts/markets/time frames, there will be a lot of confluence as well. I seriously doubt you'll ever hear about this correlation of price/time mentioned by the talking heads.
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