Copart (CPRT) LongAsset Class: Stocks
Income Type: Daily
Symbol: CPRT
Trade Type: Long
Trends:
Short Term: Up
Long Term: Down
Set-Up Parameters:
Entry: 51.74 (at the Breakout)
Stop: 50.88
TP 54.28 (3:1)
Trade idea:
A breakout from a descending channel on the 1H , zone formed by a drop-base-rally with Fair Value Gap . The setup has a 3:1 RRR. The RSI is oversold , heading up, and showing divergence.
!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.
Trade management:
**When price hits 1:1 or T1, consider moving stop to entry in case of pullback.
**Disclaimer**:
The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
