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Saturday, March 23, 2013

FXB : British Pound ETF : Bullish play

1 week of Bullish high volume
With prices in consolidation.
What a built up ! I would think ...

Resistance of $150 has become support.
In an ascending triangle on rising volume.

Target $154.
April call strike $150 is $1.60
April call strike $151 is $1.05 (preferred)

Other commentary
DIA wave 5 up.
Dollar down, other currencies up paired to it.

Confidence : Hi
Probability : Hi

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