Shorting On Lower Highs Setup

Credit goes to Nate aka @InvestorsLive for introducing me (via IU material) to this setup;

The setup:
Stock with a wide range, preferably up on the day, however I would not exclude a stock down on the day that has bounced a fair bit (a-la $NQ later in the day today)
Ideally a stock gapping up and running out the gate. 
To be on the safe side and ensure the move is exhausted, instead of shorting into the initial spike, wait for it to pullback a little and make another attempt to run at hod. When you see that attempt failed (ie confirmed lower high, stock unable to reach new highs and started to trend down) you short, with a nhod being your risk (or if it doesn't make sense r/r wise, find your own risk).

This setup greatly reduced your risk to get squeeeeeeezed.
Take $CENT for example this am:

More experienced traders could profit from shorting into the pop and quickly covering into the quick wash, however for less experienced ones waiting for that "confirmation" that the bulk of the move, the scary part is over, should be preferable.

I have posted three trade recaps from today of me practicing this setup on $NQ $CNET and $ZAZA, find them under the "Trades" section on my website at

www.paraboltrades.com/trades.html