Long opportunity on GBP CAD!

Reason to trade: Price respected Daily S/R level @1.7224+/-30 pips. Double bottom formed on 4Hr chart. Price broke the previous downtrend resistance @ 1.7325+/-20pips. I will wait for price to retrace to ~50% fib level of the impulse.
Entry @1.7311
S/L@1.7159 (152 pips)
Risk/Reward: 3.18
Money management: Risk is more than 100 pips. Will invest 0.8% of my capital.
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