(A) FULL ANALYSIS: USDJPY - MAJOR Drop Coming! DAILY CHART

On this DAILY chart, what I am projecting is that this pair is staring at a MAJOR DROP about to occur! What is a "MAJOR DROP"? How about +1500 pips! That got your blood running didn't it? So let's be straight here though. It ain't gonna happen overnight. Yeah, I know. It would be nice right? No. IF it happens, we're talking in the order of MONTHS to get to target. And yes, I hear you FA guys laughing at me already. Yes, I know there is a supposedly imminent rate hike coming and all you FA guys are predicting that USD will jump to the moon! I'm not ignoring that but I also don't believe the market will react that way. We can only wait and see.

But back to what I am seeing that is likely to come. Before I describe what I think is happening, just so you will have a little more confirmation that I am the right track on this, take a look back on this DAILY chart I posted back on AUGUST 17th, almost 3 months ago! Compare that to what you see above in the updated MAIN chart and see how RIGHT ON THE MONEY that chart was! And still is.

WAVE COUNT
I already predicted MONTHS ago that this pair had peaked and completed the MAJOR IMPULSE wave up back at the highs established in June of this year. Since then, it has been working the ABC corrective wave pattern. What my wave count shows is that wave (a) of the larger degree wave A has already finished. Wave (b) of A also completed when it retested the highs and could not break through and formed a double top in August of this year. From there, it DROPPED as I had predicted it would. After that +900 pip drop (in which I'm not ashamed to say I caught the whole damn thing along with anyone who followed me!), prices began retracing back up just as my chart predicted it would. Almost as if the market was following my chart! So this retrace back up I have labeled as an abc as part of the wave (b) which I am now seeing as being completed. That would mean that the next move is a wave (c) down.. Which should unfold in 5 waves. If that is correct, then I am again catching the beginning of a BIG move down.....just like back in August! But this time, if it happens, I could be looking at over +1500 pips move!

PATTERNS
For those critics that say patterns don't work, take a look at my posts from back in August:
8-9 ANALYSIS: USDJPY: Filled Bearish Cypher Could mark the top

8-12 UPDATE #3:USDJPY: Crab TP1 & TP2 Hit (+171 pips). Still MORE?

8-17 ANALYSIS: USDJPY: MAJOR Trend Change Forthcoming?

8-24 UPDATE #1: TRADE: USDJPY:2 LONG-TERM Patterns So Far.+440 pips

What do those posts have in common? PATTERNS! Those patterns combined with my wave count predicted that +900 pips move down when at the time, many fundamental guys were calling for more upside to come!

Ok, so why do I bring all that up? To brag? The past is the past. I already pocketed those pips and BTW, my SHORT SELL from August is STILL OPEN and RUNNING. I bring it up because.....I am seeing a similar setup happening right now! Including those fundamental guys AGAIN calling for parity and for USD to rise! Rate hike anyone? Oh, they've been crying that WOLF for months now. Every month.

So here, I am seeing 3 relevant POTENTIAL patterns: 1. Bat #1, 2. Crab, and a 3. Bat #3. Fulfillment of all 3 patterns would mean a +1500 pip decline. There is also a POSSIBLE leading expanding triangle in development with it's D leg now completed. If that is so, then that E leg drop will be a DOOZY!