There is nothing wrong with making more than one attempt at the 3Min Bolli, but this only makes sense if the setup is really strong i.e. there is white space above the level for a short and below the level for a long. Ideally, I also need a magnet below or above the entry to attract the market to at least my BE or 1R target and then white space below that.
When there are other levels 10-15pts beyond my entry, that is a weak setup, not a strong one, and that means that just one precise entry is required and that’s it.
The entries were:
- first one was before the level
- the second was adding to the first trade at the level
- my third was a 2nd Chance, but I had 2R risk open!!
- and the fourth was opened just after I had been stopped on the third entry but still had the first two trades open
Apart from this being crappy trading, the real reason I wouldn’t use 4R on this setup is this: BNR below and CBOS and S1 within 15pts.
Now let’s look at the sells
As well as the two shown, there was a third sell which was also an On Tilt trade
THOUGHT PROCESS: “this is a 3Min Bolli but at what we’ve got below … I’ll take the trade at precisely the level and if it doesn’t work I’ll look for at CBOS/S1, or failing that, a compression of PA pattern”
