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- My final post of the day is an observation that I did on MCD
- The chart above showed my 'would-have' entry point
- There it was an Hammer formed right underneath the Opening High
- But I looked at the volume, and noticed that there weren't significant spike
- I flipped over to the 15 minute chart (see bottom chart), and noticed that the 5eMA was way too far away
- Although I told myself that this looks really good as a Base and Break setup... I decided against a Long entry
- It turned out to be another good run as you can see from the chart above. Ouch!
- The chart below is the 15 minute chart that I mentioned
- Noticed how far away is that 5eMA?
- What do you think? Would you have entered? If so, why? Or why not?
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