Austrian Traded Index ( ATX ) Technical Strategy: Hold until Triangle breakout
Elliottwave Count: Triangle
ATX (Austrian Traded Index) is in wave (B) which is in triangle formation. We are in last phase of triangle (wave e). We possibly see last pull leg up or in alternate scenario, we possibly see downtrend from current level. We might mark this move as confirmed after 2092 level breakout which is drawn from wave (c) to wave (d). Each leg of triangle retraced 76.4% of fibbo, with same analogy we can target wave (e) to 2502.26 or at-least 2390 (already reached 2390).
We are on AUD basket in short term and same time we need to put caution on every AUD pairs. As those pairs are on view for longer time frame. Once ATX confirm it's triangle breakout, we can expect impulse bear move on AUD pairs.
-- By @Hoagtrading (Hoagtrading.com)