By Darrin J. Donnelly
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Additional resources for Secrets of the Darvas Trading System
Com for the latest updates. 41 In analyzing these comments, we understand that the box top takes a minimum of four days be identified. For example, let’s say that on Day 1, a stock hits a high of $61. 50. At this point, we can see that the previously set high of $61 was not touched or penetrated for three consecutive days. Thus, the top of the box is $61. While there is some debate about whether the top of the box could be established in just three days (that is, including the day the high is made as one of the three consecutive days required for the top to be established), Darvas makes it quite clear in the above statement that the high had to be set prior to the three consecutive days of not being penetrated.
He was only interested in stocks that could double, triple, or quadruple over the next six to 12 months. If you concentrate your stock selections to these types of stocks, you too may soon join the ever-growing list of Darvas Millionaires. Unfortunately, most traders lack the discipline to stick with these strict requirements. Secrets of the Darvas Trading System by Darrin J. Donnelly Copyright © 2010 Shamrock New Media, Inc. All Rights Reserved. com for the latest updates. 38 Chapter 4: An Introduction to “Darvas Boxes” Before we get into this explanation of what “Darvas Boxes” are, I want to reiterate that one of the biggest mistakes Darvas followers make is relying too much on these technical Darvas Boxes and disregarding the main components of the Darvas System.
Com for the latest updates. 48 There are five, and only five, sound base patterns that you need to be aware of. Flat Base Sound bases can take a few different shapes. They don’t have to actually look like a box or rectangle. However, Darvas Boxes, in general, identify the very solid base pattern known as the Flat Base. These Flat Bases do, in fact, look similar to a box or rectangle. The Flat Base, like all sound bases, is formed after an uptrend. The stock then trades back and forth within a fairly tight trading range over several weeks.
Secrets of the Darvas Trading System by Darrin J. Donnelly