I have a ellipse-ish raster shape with a ragged, translucent edge. I'd like to use this to punch out the same shape (with the same ragged, translucent edge) from a photo, so that I end up with a photo in the ellipse-ish shape.
In Illustrator, I could use the Pathfinder "crop" tool, though not sure how I'd approach the translucent edges. Is this possible in Photoshop CS6? Thanks for reading.