Replies to post #81 on The Darvas Method

[RCKS]

Hi Bob
for the way I like to trade Bob, you need to use Boxes on the Daily chart. The 15 min, would have me in and out of trades in a day easy. Looking at the Daily on the Dow I have the current Box as 7753 on the bottom and 8076 on the top. My stop for my Puts would be a violation of 8076 going up. That's the day I entered my DJX OB trade. Now my goal is to see how the 7753 area is handled, today it acted as the support but I am not selling here because I also use E-wave and we are likely in a 3 wave which can surprise in length and strength. I believe minimally we will test this area again by late today and if not late today early tomorrow. If we penetrate my target down 7753, I then wait for a new box to form and will hold Puts through that decline minimally.
Good trading Bob,
No one should mistake this post for some kind of advice on how to trade any index, I am still a novice and will likely be for years to come.
steve