Turtle Soup
Turtle Soup is a false-breakout strategy published by Laurence Connors and Linda Raschke (Street Smarts, 1995) as a direct counter to the Turtle Traders’ system: having noticed that most 20-day breakouts failed, they proposed “making soup” out of them — entering counter-trend as soon as a 20-day extreme breakout fizzles, with a tight stop and short-term management. The ICT method generalized the name: a liquidity raid on an obvious swing (yesterday’s high/low, a session’s, a range’s) followed by a quick reclaim, traded as a reversal — without the 20-day parameter. A cousin of the Swing Failure Pattern and Wyckoff’s spring, with its own distinct lineage.
See also
A trap breakout that reverses right after luring traders in.
How easily an asset can be bought or sold without moving its price.
An order block that failed and had its polarity flip.
An approach that follows the footprints of large institutional players.