...so with the above pic in h my trade would be to short usdchf if it breaks below 1.2155 or wait if it doesnt go up... eventually i would short usdchf long eurusd which is now building on the top of the diamond (as described by Summerset) preparing for the sharp move up... does it make sense or am I making a fool of myself?

I would rather short usdchf since the CCI indicator proposed by Summerset still points south on weekly monthly charts while euro is tring upwards.