Finding a Reason to Enter 3/25/13

The ES found an early resistance today around 1558 and quickly pushed below the 20 EMA.  The first trade today (late to get going) was the pull back to the 50CB of bar 22 and a break of the bear trend line.

Price was thought to be able to reach the 5 minute EMA, which would be sufficient to let the trade work, and we were in a trading range roughly 1549 to 1544.

The second trade was another trend line break pull back to the range line at 1544 and a 50CB for bar 41.

As mentioned in post and chat, we look for trades that have a higher probability to work, a reason(or reasons to enter) and a target that is likely to be hit.  A price push beyond the target is very desirable.