In several ocations I had explained that a H&S as any other technical formation in forex needs to be extra clear and convenient in order to be tradeable, in the USDCHF think this is not the case, due the long rise in the last shoulder.
You must consider that one of the factors that appeal traders into a H&S is what Alexander Elder calls blood hound effect, meaning the thendency for the price to reach the head once the high of the last shoulder is exceded and that could be used as a way to shield from losses this kind of trades. In this scenario the USDCHF wont recover the loss if the H&S fail.
But beyond the H&S issue I can see a clear triangle that breaked out to a decline. in this case the decline could end in the mimimal proyection of the contrary vertix of the triangle proyected from its lower fractal.
You must consider that one of the factors that appeal traders into a H&S is what Alexander Elder calls blood hound effect, meaning the thendency for the price to reach the head once the high of the last shoulder is exceded and that could be used as a way to shield from losses this kind of trades. In this scenario the USDCHF wont recover the loss if the H&S fail.
But beyond the H&S issue I can see a clear triangle that breaked out to a decline. in this case the decline could end in the mimimal proyection of the contrary vertix of the triangle proyected from its lower fractal.