The trading range is important
RYL prior ranges 80-85, 75-80, so breakdowns of those boxes tested new lows 70-75, would anticipate downtrend to possibly continue below 70 from resistance at 75, using Darvas method in a downtrend. PHCC a wide trading range but not much of a trend, prior trading ranges could still be targeted for 'box' moves, support to resistance, but Darvas was primarily developed to use with a trending stock, watching breakouts or breakdowns of prior trading ranges to identify the trend for entries/exits. Without much of a trend you could still use it with PHCC when identifying moves that could retest the prior trading range, as with today's move above 22 retesting 23. Now hard to tell if 23 will breakout and hold support or retest 22 for support or breakdown to 21/20. The 'box' method would still apply but imo it works best with a trend, as I think it was designed that way.
Enjoy the Day David! :^)
RYL prior ranges 80-85, 75-80, so breakdowns of those boxes tested new lows 70-75, would anticipate downtrend to possibly continue below 70 from resistance at 75, using Darvas method in a downtrend. PHCC a wide trading range but not much of a trend, prior trading ranges could still be targeted for 'box' moves, support to resistance, but Darvas was primarily developed to use with a trending stock, watching breakouts or breakdowns of prior trading ranges to identify the trend for entries/exits. Without much of a trend you could still use it with PHCC when identifying moves that could retest the prior trading range, as with today's move above 22 retesting 23. Now hard to tell if 23 will breakout and hold support or retest 22 for support or breakdown to 21/20. The 'box' method would still apply but imo it works best with a trend, as I think it was designed that way.
Enjoy the Day David! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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