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I think you've framed this pretty well, although if you had taken one step to the right the horse's hoof would have been separated from the tree, and I think that would have been beneficial.  There were at least three alternatives regarding the fence, and it's probably personal preference as to what would be best:  1) the composition you chose; 2) move closer and eliminate the front fence entirely, keeping the same general composition elsewhere; and 3) get closer to the ground so the fence comes up to a level just under the horse.  I think #3 would have been a more unique view.