bought NEM put descending channel

Bought 1 July 55 put @ 2.35. Stop is just above the high of 4/30/10. This is a possible head and shoulders setting up or a descending channel. My target is long term resistance line at 47.68. Once again maybe a little anxious about not wanting to miss an entry. I entered just below the top of the channel but there was already negative divergence forming in the SS and MACD on the 60 and 5 min charts and the dailies were 'oversold' Time will tell if that was anything more than an $11 mistake because it hit the top of the channel and bounced down a bit. will revisit this and post a chart later.