Trade Idea PPO (Short)

Use your advantage over Wall Street with this one, PATIENCE! Let the trade come to you. This is also a trade that I consider to be in a Primary downtrend, but I think it is best treated as a Swing Trade, I think if you do so, you'll get quite a few decent trades from this one.

 This is a really beautiful head fake move out of what appeared to be a bullish descending wedge, then they took EVERYONE to the cleaners in 1 day, every long who had bought, no matter where was at an instant huge loss in a single day, now they are enticing the longs again...

 Although if you look at the long term chart, it is not immediately clear, the 150 day moving average is what this trade is all about. If you look at the areas I have highlighted, that has been where breaks of support have gapped down hard, there has been resistance and breakouts have failed, it's also where they took all the longs to the cleaners in a single day.

 So I would not get greedy and look for a few extra percentage points trying to jump in early, let this come to you, but you need to set an alert for when this breaks below $46.25 and be in the trade really quick, you never know if you'll get another massive day down and waiting for the close, you may miss it.

Here you can see this wasn't a random price pattern that looks like a head fake, they set this up way in advance with accumulation near the wedge's apex and then dumped it hard. Like I said, treat this as a swing trade, keep your stops on the tight side and this should offer you many opportunities as they bleed this one in a primary downtrend.