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.
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