Bearish Trade Setup on Wells Fargo (WFC)

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Bearish Trade Setup for WFC: Wells Fargo
1. ADX is above 30 indicating a strong trend is in place.
2. WLR setup bar was on 6-21 closing below -80. It confirmed bearish the next day on 6-22 with a close below the previous day's low. This is highlighted with green circles.
Additionally, WFC is trading below the 20 (red line), 50 (blue line), and 200 (green line) daily moving averages. So the plan here is to wait a day or so for the stock to rise back up to the red 20 dma line and then purchase an August put. Currently looking at the 29 strike price in the $2 and change range. Later.
Trader Dad!