New trade (scalp)

Shorted the GBP/USD @ 1.6923 strictly as a pullback or a rotation play using Fibonacci retracement. This trade was recommended by Bob Iaccino as a scalp (not official)...but ultimately he is looking at the profit target (1.6743) for the scalp as a entry point for a long official recommendation. (Stop 1.7027 because pair is very volatile.)

The lower red dotted line is the profit target for the scalp AND the entry point for a long intermediate position later in the week. 38% retracement corresponds with the profit point as we are looking for a rotation.