Horsing around with the USD/JPY pair noticed an Bull pattern begin during summer 2015 that just ended July 2016. It appeared the impulsive/corrective patterns did support this study. Following that 5th wave was a nice Flat Bull from July to November of this year. Notice the ginormous middle finger from market makers 11/08/16 to 11/09/16 pulling in all those Long stops before Bull leg 3 resumed, tsktsk.
If I'm doing this correct we are working Bull Wave 4 so feeling curious how this 4th wave will react because it is facing our last fib study 1st stop. Also following that corrective move we have Wave 5 facing the previous Bull fib study 786.
Enjoy and feel free to share any thoughts.
Apologies traders, I kept referencing the July '15 study as a Bull, not a Bear.
Excitement trumps rookie diligence, another note for the new journal.