Today the patience that we showed throughout this entire week seemed to finally payoff. We only took two trades today, and they were in the late morning on a Friday to say the least, but that didn’t stop us from taking some great profits from the market on a summer Friday.

We had to wait for our trades today because earlier this morning we had a good amount of news events that could have potentially disrupted the markets we trade; so we waited till after 10am EST before really considering any trades. After 10am EST we finally saw some green POT indicator bars on the Crude Oil (Symbol CL), which allowed us to start qualifying trades with increasing price action on the tape. At 10:19am EST we finally entered our first trade of the day in the form of a 2-step long due to green Pace of Tape indicator bars. We entered the market long at a basis of 69.21 and were able to quickly get our first two targets of +3 ticks (2 contracts) and +6 ticks (1 contract) for a total of 12 ticks ($10/tick).

Our second and final trade of the day came on the Crude Oil futures as well (Symbol CL). We noticed that the crude oil market was trending lower, but quickly changed direction, giving us an opportunity to take a 2-step trend-reversal trade long. At 10:58am EST, after price broke a dynamic level of resistance at 68.47, we entered the market with the Pace of Tape indicator increasing at a basis of68.53. As we managed the trade with our automatic trade management system on our Ninja Trader charts, we took our profit at +3 ticks (2 contracts), +6 ticks (1 contract) and our final contract, which we let run, got us an extra +13 ticks (1 contract) for a total of 25 ticks ($10/tick).

Today’s totals: 3 for 3 $370 in profit!