Fib Speed Resistance Fan Study

FX:USDJPY   U.S. Dollar / Japanese Yen
This is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially tradable ideas:
1) Riding the new breakout and confirming when it's no longer valid
2) Anticipating a new breakout

(*Study only. I did not trade this chart)
Edit: I realized that I wasn't consistent in drawing the blue example. Because it has that wacky high on the low bar, this strategy would need to be drawn starting one bar earlier on the low (the last red bar of the downtrend) to the high two bars later. That would appear to appropriately hold the upward trend to the right of the drawn line, and still give a correct breakdown later off the .09 line.
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