AXS due for a short
Finally had sometime to look at AXS, noticed a decending triangle forming. From last night we got to our ALT for AXS around 52.5 and have been going from lower highs since then. We've found support at 0.5 fibs going from where the climb started yesterday up to the ALT. I was expecting a retrace to the 0.618 which lined up with the 20EMA and thought it would bounce and form the 5 Wave of the elliot wave. However given that its respecting that support line at 0.5 and seeing lower highs id be thinking that it might break through that support line.
Usually i'd think that it depends what BTC does but the last week or so AXS and AlLICE havent really done that.
Let me know what you think and this is not financial advice just my ideas.
Usually i'd think that it depends what BTC does but the last week or so AXS and AlLICE havent really done that.
Let me know what you think and this is not financial advice just my ideas.
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