ORLY Long on Consolidation Break-Out

NASDAQ:ORLY   O'Reilly Automotive, Inc.
🐂 Trade Idea: Long

🔥 Account Risk: 1.00%

📈 Recommended Product: Knockout

🔍 Entry: +/- 922.00

🐿 DCA: No

😫 Stop-Loss: 877.99 (898.75 for aggressive trade)

🎯 Take-Profit #1: 977.59 (50%)

🎯 Take Profit #2: -

🎯 Trail Rest: Yes

🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨

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ORLY is in an overall uptrend and broke the consolidation trendline with a strong candle going into a bullish consolidation inside a small range. Entry should only be made if the daily candle remains outside the consolidation range (green box) today. If it falls back wait for another break-out and daily close.

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