This is signaled by The Anty - a modified stochastic showing oversold on swing trade for a few days rally; It is also a Turtle soup signal as new 20 day low, but failed bear breakout with confirmed reversal on daily chart.
Order cancelled
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on second day killed trade for breakeven due to no follow through action...
Interesting name.. Hello what is Turtle soup and The Anty signal? would love to explore more :) Thank you
Aussie-scalper
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@M_M_M_M, Hi - I got most of my trading ideas from the book, STREETSMARTS....a real classic. worth a read.
The Turtle soup takes advantage of failed ' Turtle' style entries eg. new 20 day high or lows...with rules.
The ANTY is one of my favourites, they developed trading rules around a modified stochastic function, back tested and found it's very reliable for swing trade 1-3 days only. I use CFD on ASX stocks for this, plus credit options spreads if a larger 3-4 week swing may occur.
M_M_M_M
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@Aussie-scalper, Thanks for the book rec will def check it out :)
Meanwhile, mind to share more knowledge on the ANTY please? sounds very interesting, would love to learn more of it. Cuz I'm currently using RSI stochastic and MACD to time the entry/exit which quite lagging and missed out on some opportunity and Im in the look out to learn more technical analysis to implement.
I trade ASX stocks only not using leverage or CFDs, I find it bit too much for me. Thanks in advance. Much appreciated