A triangle could be in its early stages right now in the USDCHF. The decline from the 1/22 high at 1.1122 is in 3 waves and the rally from the 2/1 low at 1.0728 is also in 3 waves (to this point). Legs of triangles unfold in 3 waves so if a triangle is underway from the 1/22 high, then expect the next move to look something like what the arrows show on the chart above.