AtticusRex

AtticusRex

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30 - Here it is 73! Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. I repeat: Failed grails tend to move (painfully) in the opposite...

AtticusRex

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14) >30 and coming off new highs (higher the better). Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the undesired direction.

AtticusRex

$XBI $LABU closed above previous 20 DAY lows XBI(94.01)|LABU(91.30)/ after making new 20 day lows XBI(93.99)|LABU(90.08). This sets up a power reversal pattern on the daily chart. Stop = prior 20 DAY lows. Low ADX (15) enhances "reversal effect". See my previous "Turtle Soup" charts & outcomes to define projections. Trail stops.

AtticusRex Updated 

BTC --> 5900 --> 10,000± Made new MONTHLY + new momentum highs + new ADX highs --> Retrace to monthly 20ema (purple line). Setup INVALID below 20ema on MONTHLY chart. ***Trail stops*** Failed grail = very painful. Repeat: SETUP invalid below 20ema on MONTHLY. Holy Grail by Linda Raschke

AtticusRex

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. Setup invalid below daily EMA (19.82)

AtticusRex

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. Setup invalid below daily EMA (34.31)

AtticusRex

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. Setup invalid below daily EMA (34.80)

AtticusRex

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. Setup invalid below daily EMA (12.14)

AtticusRex Updated 

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. Setup invalid below weekly EMA (5.73)

AtticusRex Updated 

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA . Projection is a retest of the highs. Trailing stop. ***Failed grails tend to move (painfully) in the opposite direction. Setup invalid below daily EMA (15.25)

AtticusRex

AAPL -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...

AtticusRex Updated 

QQQ failed to hold previous 20 day highs (170.82) after making new 20 day highs. This sets up a Turtle Soup Sell (Linda Rashke), a short term reversal. The weaker the trend, the stronger reversal (time a/o price). QQQ ADX on the daily ≅ 10.4, essentially trendless. This setup is invalid > 170.82 - 20 day highs/low are key levels and price often trades through...

AtticusRex Updated 

MU broke nicely from a weekly bullflag AMD forming a monthly bullflag

AtticusRex Updated 

Turtle 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...

AtticusRex

Traded below and back above previous 20 day lows today. A close above those lows (81.95) sets up a short term reversal to the upside. Trading below 81.95 cancels the trade. Use trailing stops (as always)

AtticusRex Updated 

Market retreats to 20 period EMA after making new highs (for long positions)/lows (for shorts) with ADX (14period) >30. Some people use the 20 period SMA. Projection is a retest of the highs. Trailing stop. Failed grails tend to move (painfully) in the opposite direction.

AtticusRex

A close above previous 20 day lows after making new 20 day lows (the lower the better) sets up a TSB, powerful short term reversal on the daily chart. Trade is cancelled below previous 20d low (164.47) - set stops accordingly.

AtticusRex Updated 

With a close above previous 20 WEEK lows AMD has set up a power reversal pattern on the WEEKLY chart. Stop = prior 20 week lows (9.70).