Post Labor Day Trade Results, Market Slowly Comes Back.

Today certainly was a nice gift after the long Labor Day weekend, when we opened up our charts there seemed to be some actual volume in the market! It was clear to see that today’s price action showed us just a little bit more volume than last week, which is a great sign of things to come in the following months. We were able to take one trade today, which came on the Crude Oil market, and netted us a profit of 21 ticks or $210!

Our one and only trade of the day came on the Crude Oil (Symbol CL) just before the opening of the open outcry pits at 9:00am EST. The Crude Oil market had continually been making new highs all morning, and market sentiment was still showing us the long side. After price began to break the 71.00 level with great order size and speed of the tape, we looked to take a continuation of the uptrend trade with our James Wave to the Long side. After a strong push up in price, we notice a small quick pullback to our trigger line starting to take shape and at 8:43am EST, with the Pace of the Tape indicator flashing green and our Stochastics pointing long we entered the Crude Oil long with a basis of 70.52.

Upon entering the trade we quickly saw price move in our direction as large buy orders came streaming across the ticker tape, we were filler rather quickly for +4 ticks (2 contracts), +8 ticks (1 contract) and our final contract we let trail with our trigger line on our trade management chart for an additional +5 ticks (1 contract), giving us a total of 21 Ticks on the trade, for a total profit of $210.