WickCheck / Trading school / Turtle soup
Turtle soupIntermediate
A reversal trade against a breakout of an old high or low, named after the Turtle traders whose breakout rules it fades.
Simplified illustration, not real market data.
What it means
The Turtles bought new 20-day highs. Turtle soup sells when that breakout fails and price falls back below the old high. It is essentially a liquidity sweep reversal on a higher timeframe.
How to spot it
- A new high or low beyond a well-known level (20-day, previous week).
- A quick failure back inside.
Common mistakes
- Fading strong trends just because a level was broken.
Related terms
Liquidity sweepPrice trades beyond a high or low, triggers the stops there, and closes back ins…Equal highs and equal lowsTwo or more highs (or lows) at nearly the same price, seen as an obvious pool of…
Why most strategies need a human behind the screen
Read the lessonWhat a mechanical test can and cannot tell you about smart money concepts.
Education only, not financial advice. Definitions vary between teachers; these are ours, written for clarity.