USD/CHF: Quick short play ?

USD/CHF seems to consolidate a little bit.


Capture d'écran 2016-01-05 21.10.10

H4 shows an exhaustion with two bearish candlesticks. It seems prices want to touch their TS @ 1.00234. This level is a high support, since it’s an extension of previous SSB (check on the left of the chart). LS is also free of any obstacles (candles) as a support.


Capture d'écran 2016-01-05 21.10.58

H1 shows that there was some fighting around TS but eventually the curve was broken by a red candlestick. This is an alert indicating that the bullish trend’s momentum is temporarily fading. KS is 1.00652 and will act as a support. Should this level break, prices will tend to move to the 1.00234 area as indicated.


Capture d'écran 2016-01-05 21.11.43.png

This timeframe seems to indicate that the prices want to penetrate the KUMO. LS has already crossed its TS validating the short-term trend reversal. Should the prices enter the KUMO the next support is @1.00659 and 1.00585. Consider also LS which should cross its LS as a bearish validation.