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Raschke

AAPL Turtle Soup Sell on the WEEKLYAAPL -0.35% failed to hold previous 20 WEEK highs (190.37) after making new 20 WEEK highs (194.20). This sets up a Turtle Soup Sell (Linda Raschke), a short term reversal (weeks if on weekly chart, days if on daily, hours if on hourly, etc). The weaker the trend, the stronger reversal (time a/o price). AAPL -0.35% ADX on the weekly ≅ 19, weakly trending. This setup is invalid > 190.37 - 20 WEEK highs/low are key levels and price often trades through multiple times - set and TRAIL STOPS appropriately. Note: Lower momentum high with higher price high on daily. This divergence has corrected on the daily. Weekly momentum and price both made higher highs. When Turtle Soups fail they fail spectacularly (aka bull/bear traps). For example, QQQ recently set up 2 Turtle Soup Sells on the daily (May 31 & and June 13) and rallied hard the next day. So I repeat: This trade is invalid > 190.37 Previous weekly Turtle Soups Sells & pivots (previous 20w highs): Dec.18 - 176.24 Jan.22 - 177.20 Mar.12 - 180.1
NASDAQ:AAPL
by AtticusRex
MU Turtle Soup Sell on the weekly chartTurtle Soup Sell (TSS) on the weekly if closes below 63.42. TSS: A close (Friday 6/1) below previous 20 WEEK highs (63.42) after making new 20 WEEK highs (the higher the better) sets up a TSS, powerful short term reversal on the WEEKLY chart. Set up is invalid above previous 20w highs (63.42) - often fluctuation at those levels. Set and trail stops accordingly Projection - previous swing lows i don't know what the green triangle is or how to get rid of it
NASDAQ:MU
by AtticusRex
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