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Turtle Soup Body Pattern
The Turtle Soup Body is a price action pattern derived from the classic Turtle Soup setup, designed to identify false breakouts beyond recent highs or lows, with a strong emphasis on the candle body close.
This pattern occurs when price briefly breaks above a recent swing high (or below a recent swing low), triggering breakout traders, but then fails to sustain the move. Instead of focusing only on wicks, the Turtle Soup Body setup requires the candle body to close back inside the previous range, signaling rejection and loss of breakout momentum.
Key characteristics of the Turtle Soup Body pattern include:
A clearly defined recent high or low (typically a 20-period high/low)
Price breaks the level intraday, creating a false breakout
The candle body closes back below the high (for short setups) or above the low (for long setups)
Confirmation that market participants are trapped on the wrong side of the move
The Turtle Soup Body pattern is commonly used as a mean-reversion or reversal setup, offering tight stop-loss placement and favorable risk–reward ratios. It is especially effective in ranging or overextended market conditions and can be applied across multiple timeframes in the Forex market.
The Turtle Soup Body is a price action pattern derived from the classic Turtle Soup setup, designed to identify false breakouts beyond recent highs or lows, with a strong emphasis on the candle body close.
This pattern occurs when price briefly breaks above a recent swing high (or below a recent swing low), triggering breakout traders, but then fails to sustain the move. Instead of focusing only on wicks, the Turtle Soup Body setup requires the candle body to close back inside the previous range, signaling rejection and loss of breakout momentum.
Key characteristics of the Turtle Soup Body pattern include:
A clearly defined recent high or low (typically a 20-period high/low)
Price breaks the level intraday, creating a false breakout
The candle body closes back below the high (for short setups) or above the low (for long setups)
Confirmation that market participants are trapped on the wrong side of the move
The Turtle Soup Body pattern is commonly used as a mean-reversion or reversal setup, offering tight stop-loss placement and favorable risk–reward ratios. It is especially effective in ranging or overextended market conditions and can be applied across multiple timeframes in the Forex market.
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Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.