6S Short — $6SM26 breaking the 1.2833 shelf on risk-on CHF weaknSwiss Franc FuturesCME:6S1!ivvixSetup: On the 4h chart, 6S made a strong recovery from the late-March lows up to the 1.2900-1.2940 zone, but has been rolling over since Apr 17-20 with lower highs visible in recent sessions. The 1h chart shows a clear distribution pattern — price failed twice near 1.2940, broke below 1.2880 support, and is now pressing the 1.2830-1.2835 shelf. Recent bars show a sequence of lower highs and a bearish close on elevated volume at the 10:00 bar, confirming selling pressure at this breakdown zone. Volume on the selloff bars has been meaningfully heavier than the bounces. Flow: CHF weakness is consistent with the broader risk-on environment where safe-haven FX demand is diminishing. DXY firming marginally adds to CHF relative weakness. The broader context of equities and crypto strength reduces the bid for Swiss francs. The 20-year Bond auction is a near-term risk, but any rates selloff scenario (weaker auction) would reinforce USD strength and further weigh on CHF. Plan: Stop is placed above the Apr 22 intraday bounce highs and the breakdown shelf — a reclaim of that area invalidates the break. Target is the early-to-mid April congestion zone around 1.2780, which was the base before the big Apr 13 rally. The R/R is approximately 2:1. A bond auction that tails badly could accelerate the move; a risk-off spike back above 1.2860 would cancel the thesis. 📍 Entry: 1.2833 🛑 Stop: 1.286 🎯 Target: 1.278 ⚖️ R:R: 1.96