<https://community.ig.com/forums/topic/742-turtle-soup-anyone/#comment-8897>
<http://schema.org/text>
"Hi ﻿  That's a very good question and difficult to answer, everything is obvious with hindsight but in real time there is always the clutter of confusion, if there wasn't there would be no market, no one would take the other side of the trade. The bar or bars of the break are dependent only on the time frame you are using, on a 15 min chart price could have spent half the day on the break repeatedly luring more traders into shorts. \nOn the down trend the 20 sma IS the support (looking at it upside down) Number 2 is called a support level because that was the prior lower low where price turned up last, price action then became very minced (which is always a warning sign) crashing through the 20 sma several times before making another move down in an effort to make a new lower low and continue the trend but only succeeded in making a double bottom. Did strong bulls actually push the price down to stop out other traders and then take their long contracts for a big move up? who knows. It is said stop runs come in blocks of either 10 pip or 20 pip, rarely larger (just large enough). \n  \nThe key points are; \nDon't be married to a trade, if it's not working as expected just get out. \nWhenever you see this wonky double bottom/top there is often a big, sharp move in the opposite direction so think I need to get aboard. \nAlso think differing time frames, these look best (as Linda Raschke describes in her book) on the daily chart, on an intraday chart it will look more like a rounded bottom and more difficult to see so check the daily often. \n  \n  \n  \n  \n"
<https://community.ig.com/forums/topic/742-turtle-soup-anyone/>