XHB Weekly 61.8 retracement since 2007- Clean View

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The daily chart for XHB             has become too messy to trade effectively. Price reached resistance target of 61.8 fib (from 2007 highs-2009 lows) and is since in a wedge/triangle/complex H&S/consolidation.
I am not sure of direction of the breakout but I am expecting volatility in the coming months. $30 and $31 have acted as strong res/supp points on the daily chart .
Thus I am looking to play a long strangle strategy. I am looking to roll out my $31/$30 strangle to Feb-March 2014.
I will play a pure directional strategy with common shares once a direction is confirmed so as to leverage the strangle.
Upside target would be Fib 76.4. Downside target around $25 and below
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