Trippy Fibonacci: Entertainment-provacative-analysis: USDJPY

Summary It is popular for traders use Fibonacci tools in their analysis. After applying the retracement/extension tools properly and seeing legitimate pivot points, one must ask why does it even work. As many of you already know, the rabbit hole you jump into leads you into many niche places and never know where you end up. This is just one of those things that I hope will inspire other responses in the messages below.

The charts: Bellow are pretty self explanitory on how I used the retracements/extensions. Areas indicated with a yellow circle are just some notable pivots and red areas are shown how I used the tool.

1st Channel: Fibonacci extended channel of recent action:

1st Fibonacci Extension:

Same Extension Reversed:

Extensions with horizontal lines:

Recent look back at results:

Past look back to 2008:

2nd channel fib added for recent channel change:

2nd channel extended down:

2nd Channel extended to the left of the chart:

Its interesting to see just from a few notable areas of interest and how they are in hindsight of the chart. I chose basic settings here on TV for the numbers and extension. The chart could've been cleaned up to show only the most reliable numbers, but for entertainment purposes I left the numbers alone.

Lastly, I've included a longer term fib retracement. If the channel slope of the current channel matches both the slope and levels, is the run up of USDJPY into the end of 2016 just a retracement of the flush before? Will there be a repeat flush to lower levels as it did early 2016? I would like to hear input, especially from Gann oriented traders