Columbus Day Day Brings Slow Trading Day

Today we saw some much lower volume in both the European and U.S trading sessions because of the U.S banks observation of Columbus Day; this not only brought lower volume, but also increased volatility to the markets (Identify Market Sentiment For Day Trading Futures). This of course did not stop us from watching the markets, or from taking trades! We were able to scalp off one trade this morning, with a total profit of +$80.00 when trading with 4 Contracts.

The one and only trade we took today came on the Crude Oil market (Symbol CL). Once the start of electronic trading began early this morning, price looked to continue its trend up from Friday’s price action, possibly trading into the $73/barrel price level. By the time the U.S equities market would have opened for trading today, the crude oil market was trading at 73.80, rising more than a dollar today, without a doubt because of the lower volume in the marketplace.

After 9:30am EST, after a slight pullback, we began to see increasing speed of the tape to the long side, and thought the buyers might be pushing the Crude Oil into new highs for the day, so at 10:08am EST we entered the crude oil market long off a Breaker pattern. Our order was able to be executed at a basis of 73.78; where after seeing a slight increase in the buying pressure, were able to take profits at +4 ticks (2 contracts) before closing our trade with a total profit of +8 ticks ($80) (Scalping Futures Day Trading Video).