FAILURE SWING ON AUDCAD

We can see that the pair trades in an upward channel, it just tested the trendline support and has started its journey back to the channel's resistance. I have used the fibonacci retracements and extensions to place entry and exit points. In this case because the stop loss is too much for those trading with small amounts I had taken the 50% retracement level as my stop loss otherwise the 0% level is the stop loss. Entry is at 100% level and profits can be taken at the various extention levels.