Guy Cohen

No Breakout No Losses

by Guy Cohen 27. April 2012 03:52

I mentioned last time that the S&P was forming a potential a bear flag.  The very next day the market slid further but did not break the support formed by the low on 10th April.  Our trading plan relies on breaks of suppot and resistance adn therefore no trade would have been triggered there.  


spy 2012.03.27.jpg

BAC and GS did break their support and moved far enough down to make a quick first profit.  GS has bounced stronger than BAC and P1 is all you'll get on that one. BAC has further room to the downside if it can break down past £8.00 and stay there.  


aapl 2012.03.27.jpg


I'm travelling now for a couple of weeks - will post more during my travels!