Risk / Reward Setup in NVDA

$NVDA

Not a big fan of diagonal trendlines, but this setup in NVDA 0.00%↑ has a confluence with some meaningful touchpoints and opens up a decent trade idea on the long side.

The stock is about $124 at time of writing. I’m using the AVWAP from the June top to manage downside risk ( about $6). If NVDA 0.00%↑ breaches the trendline that it touched today, it opens up upside possibilities at $131, $136, $141. All of which provide the +1.0 reward/risk ratio desired when entering a trade.