Possible short on USDCHF on H4
Clear downtrend on D1.
Price has come off strong resistance at 0.90.
Price is below cloud, Kijun Sen is below cloud, but price is above KS.
Kumo twist is bearish
RSI Below 50
If bearish fractal is formed off bounce from Kumo can look to short to 0.88280 as first target with SL at 0.89432 which is almost a 3:1 risk reward ratio.
If price breaks fractal level at 0.88279 price could continue to 0.87592.
0.87511 is also the 1.272 extension from the last swing high and price is currently just above the .618 retracement from that same swing high, but below the kumo.
Price has come off strong resistance at 0.90.
Price is below cloud, Kijun Sen is below cloud, but price is above KS.
Kumo twist is bearish
RSI Below 50
If bearish fractal is formed off bounce from Kumo can look to short to 0.88280 as first target with SL at 0.89432 which is almost a 3:1 risk reward ratio.
If price breaks fractal level at 0.88279 price could continue to 0.87592.
0.87511 is also the 1.272 extension from the last swing high and price is currently just above the .618 retracement from that same swing high, but below the kumo.
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