USD.CAD long scalp into Reversal Trade? UC might have bottomed

Sorry for the messy chart, but a quick plot to initiate trade.
Strong confluence of Fibs just got Pinged and clearly noticed.
There is a cluster of resistance above so taking profits at each.

If it navigates through the resistance clusters, there is some room above.
SL just a hair below the support cluster around $1.3 round, say 4x spread.
Will trail a stop if and when we start approaching resistance zones.

I know, I know, "Bottom Picking is a Stinky Business".
Indeed it is, so start with very small risk, add to winners.
But the Fibs indicate several downward waves could end here.

This method gives super tight Stop Losses, so can withstand a few losers.
Once successful, targets can also be set precisely, say a couple pips shy.
Or, stops can be trailed to have one/two fibs between price and your SL.