🐢 Turtle Soup: Exploiting Failed Breakouts with Surgical Precision
Originally pioneered by classic market wizards and refined in LIT, the Turtle Soup setup is one of the highest expectancy trades in Gold. It allows you to enter at the absolute high or low of the day with an ultra-tight stop loss.
Step-by-Step Execution Rules
- Plot Previous Day High (PDH) and Previous Day Low (PDL) on your chart.
- Price expands past PDH with a spike wick, but the M15 candle body closes strictly back inside the prior day’s range (Liquidity Sweep).
- Drop to M1 or M5 to observe a rapid Micro-ChoCH breaking internal swing structure.
- Entry: Sell limit at the retest of the sweep candle’s body or micro FVG.
- Stop Loss: 2 to 3 pips above the peak wick tip (typically under 15 pips).
- Take Profit: Prior day’s equilibrium (50%) and final target at Previous Day Low (PDL) for a 1:5 to 1:10 R:R.