TRX/USDT (trade double bottom & risk control tip)

Pair: TRX/USDT (on daily candle)

Pattern: Double Bottom 

Confirmation & Entry: Buy at $0.028 (+-3%) AFTER daily candle closes above $0.028. 

Sell target: $0.040

Fail: Abandon pattern if daily candle closes below $0.016 before entry confirmation appears. 

Risk Control: 
Following formula allows you to set a stop level that suits your risk preference. 

 Stop level = ( 1 - Risk per trade / Capital ) * Entry price 

*Risk per trade is the maximum amount of money you can afford to lose in this trade. 
*Capital is the total amount of money you put into this trade. 

For example, assume your risk per trade is $180, capital is $700, and you entered long position at $0.028 per TRX. 
So, your stop level should be at (1 - 180/700)*0.028 = $0.0208