Don't Ignore This Chart!

WAB Triggers Turtle Soup Buy Setup


One of the BIG improvements or advantages in ACP is the fact that I can run a scan in the side-bar, then immediately click on the symbol to bring up the chart.

One of the scans that I use frequently is the 'Turtle Soup" scan on intraday data. Those of you who have added the Turtle Soup scan from one of the articles that I wrote on this setup (by Larry Connors and Linda Raschke) can simply open this scan and run it within ACP.

Today, around 2:20pm, this scan showed the following tickers:

And the fact that they are listed in the side-bar enables me to simply click on the symbol and bring up the chart.

While browsing through the list I noticed the chart of WAB. Earlier today, the price dropped below its 20-day low, which was at 73.30, to find a low at 71.05. Out of that low, the price then rallied back above that previous 20-day low, which triggers the setup. So, in this case, the trade was triggered/entered just above 73.30, say 73.50. And following the rules of the setup ,a stop-loss should be placed just below today's low, i.e. ~71.

Additional confidence to enter this trade can be found in the fact that today's low is formed in a longer-term support zone between 71.00-72.50.

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Julius de Kempenaer
Senior Technical Analyst,
CreatorRelative Rotation Graphs
FounderRRG Research
Host ofSector Spotlight

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Julius de Kempenaer
About the author: is the creator of Relative Rotation Graphs™. This unique method to visualize relative strength within a universe of securities was first launched on Bloomberg professional services terminals in January of 2011 and was released on in July of 2014. After graduating from the Dutch Royal Military Academy, Julius served in the Dutch Air Force in multiple officer ranks. He retired from the military as a captain in 1990 to enter the financial industry as a portfolio manager for Equity & Law (now part of AXA Investment Managers). Learn More
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