PCLN Charts

As I said, it's the very short term and when you look at the 60 min chart, you'll see the size of the negative divegrence vs the $1200 area is really putting probabilities solidly in the bearish cap, but if we do see >$1200, I'd likely use it as an add-to or if I didn't have a position, a new short position for the longer term.

Short term bullish charts, this is why the Call option position was opened.

1 min leading positive

2 min leading positive

5 min leading positive

And the bearish...

 These are much stronger signals, 10 min leading negative, the $1200 area is highlighted.

30 min leading negative

And 60 min leading negative, you can see a move above the $1200 area isn't a very big deal vs the divergence and in fact would be a welcomed tactical entry.

I kept the PCLN trading short position open, the calls, if this works as planned, should make money and also serve as a hedge if need be, then when they are sold, I may look to add to PCLN short and the probabilities to the downside should make money on a longer basis/trend trade.