formation of cypher on usd chf 240 chart possibly

looks like we might be starting a formation of a cypher on the usd/chf 240 chart after first target move stop to breakeven for second and if this breaks the structure from the daily it could go as far sown as the 1.27 mark as well as the d leg would be retest of a trendline break one other scenario would be after completion of the .382 target it could go back up to previous structure.