WAB Triggers Turtle Soup Buy Setup

One of the BIG improvements or advantages in ACP is the fact that I can run a scan in the side-bar and then immediately click on the symbol and bring up the chart.

One of the scans that I use frequently is the ‘Turtle Soup’ scan on intraday data.

Those of you who have added the Turtle Soup scan from one of the articles that I wrote on this setup (by Larry Connors and Linda Raschke) can simply open this scan and run it within ACP.

Today around 2.20P, this scan shows the following tickers:

And the fact that they are listed in the side-bar enables me to simply click on the symbol and bring up the chart.

While browsing through the list I noticed the chart of WAB.

Earlier today the price dropped below its 20-day low, which was at 73.30, to find a low at 71.05.

Out of that low, the price then rallied back above that previous 20-day low which triggers the setup. So in this case the trade was triggered/entered just above 73.30, say 73.50.

And following the rules of the setup a stop-loss should be placed just below today’s low, ie ~71.

Additional confidence to enter this trade can be found in the fact that today’s low is formed in a longer term support zone between 71.00 – 72.50.

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