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
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.