Knew I've seen this type of setup before but looking back on it, I made a category for "Chokeholds" using this MA strategy, but only got to having a few references as clear cut to consider taking a trade based on the pattern. Most of the BTD posts I have published - you (should) be able to notice the differences / similarities between setups just based on the correlation of EXP moving averages. The name comes from a complex type of re-trace, usually without significant gap downs, but gets destroyed on intra-day to the point you don't even wana call it a 'dip'. I only have 3 or so other references, so I could be talking out the ass tho lol. Typically when I see tickers drop down to 200 / 193 (low) EMA, depending on gaps, 45 EMA (green) is on point to cross below 55 (low) MA same time as 20 EMA does. Whenever that DOESN'T happen, just means the most recent candles are way too oversold to justify a typical dip-correction. The 'Chokehold' term from 20 (yellow) EMA having to go out of the way to choke out the 55 (low) MA to get the trend back on track lmao. Confusing myself just a little trying to explain but, $AAPL was the runner up for this type of play. The dips I tend to catch - I usually expect at least a 200% up-side if not 223%. Might be far-fetched to say $BK is headed for 223%-271% upside, but.... Idk might not be too far fetched at all. Definitely one to keep on watch.
Comment:
God sometimes I look back on older posts & think "Bro how the fuck did you not think about ________?" Smh. Target prices still in tact - time is a huge factor though. Considerably a good amount of time, honestly.
Trade closed: stop reached:
Ouchhhhh