Stop and Reverse leads to a big 10 point play

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  As the market finally moved up out of the 1947 area as 11:15 am reversal time was nearing I felt it was safe to take the first 5 minute buy @ the r20ma only to watch it fail.  I took the play because we had clear air all the way up to the 1969 area but as price continued to look sluggish and stay below the 20ma as it rolled over price, I found my entry short at 1951.  It took a while for the play to get going lower but slowly I was able to move my stop down using pivots. Finally I got the 4 red bar drop I was looking for and I was moving my stop down bar by bar but I forgot to move my take profit order lower and on a thrust downward price hit my take profit order @ 1941. 10 points wow!  I'd still be in the play as the market is currently at 1938 and heading lower...   $354 profit after taking the loss on a single contract not bad as trading the ES is new for me.  Finally I'm starting to get the hang of things again with my directional trading as I watch my trading improve almost daily...  

5 min ES 02292016
Click on chart to enlarge 5 min ES 02292016
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