Swiss Franc Small Triangle?

Commentary: Remember that the larger pattern has the USDCHF thrusting lower from a triangle and thrusts from triangles are terminal. We wrote yesterdat that "the decline from 1.1922 does not look complete.

Allow for a rally through 1.1771 to complete wave 4 within the 5 wave decline from 1.1922 before wave 5 registers a new low (below 1.1677). That would possibly complete the thrust lower from the triangle." Price never exceeded 1.1771 to complete a flat so a triangle may be unfolding as wave 4. If this is the case, then additional consolidation will be followed by a new low (below 1.1677) before a larger recovery. Strategy: Flat