The trade ideas on Right Side of the Chart are typically updated when each profit target is hit or as soon as possible shortly thereafter. This is due to the fact that all trade ideas shared here have one or more explicit profit target levels. Trade ideas that are removed from the Active Trades category, whether or not one or more profit targets were already hit, are typically moved to the Completed Trades category for one of several reasons: Either they have exceeded the maximum suggested stop level, if one was provided; The trade has exceeded any reasonable stop level, if [...]
CAS (A.M. Castle & Company) is currently backtesting the falling wedge pattern as well as horizontal support, once again offering an objective entry or add-on. Stops remain on any move below 10.80 & targets remain as previously posted (see 120 minute chart). With the broad markets sucking wind lately, this trade may very well go on to be stopped out soon. However, I just wanted to update the trade as if CAS does happen to reverse off this daily horizontal support level & the backtest of the wedge pattern, any new entry or add-on here (CAS is trading at 10.90 as [...]
CAS Bullish Falling Wedge Breakout The CAS (A.M. Castle & Co.) active long trade has broken above the bullish falling wedge pattern, thereby triggering the second, more conventional entry or an add-on to the previous aggressive entry that was posted at 11.14 while prices were still inside of the bullish falling wedge pattern. Price targets remain as previously posted.
CAS (A.M. Castle & Co.) will offer a conventional long entry on a break above the falling wedge or an aggressive entry here with a stop below 10.80. This daily chart shows CAS recently bouncing off support while in the latter stages of a bullish falling wedge pattern formation. Recent volume patterns may indicate a selling climax, similar to the buying climax CAS experienced back in early 2013 just before the stock peaked & began the current 40%+ bear market. I've also listed an optional, more aggressive entry here at current levels (around 11.14) with a stop below 10.80 (slightly below [...]