TradingView
mdougllas
Aug 13, 2023 8:52 PM

Reversal Identified on SRE - Join new uptrend Long

DBA SempraNYSE

Description

SRE clearly showing signs of reversal, moving to an uptrend. The reason for this trade is trying to join the newly formed uptrend and score a massive 6:1 Risk/Reward Ratio (RR). The 3 Long Position drawings show the exact entry, stop, and targets for this trade. I am protecting the position with a first target of 2:1 RR, reducing the total risk in 1/3. Next target is sitting at 5:1, when I will start the process of mechanically trailing the stop loss using the Daily ATR as parameter. Per my Trading Plan rules on risk management, I am trading a total of 600 shares, divided in 3 trades, giving me a total risk of $150.
More