If you draw the log scale channel, you can tell that price is at a very important point because it's testing a level that has never been broken before after having already extended wave 5 on the smaller degree to the upside several times. As such, I marked this as short because I think AXS will retrace some but after that I expect it to have one move even higher.
Comment:
On the 30 minute we can see another even bigger head and shoulders pattern. As such, our new target is 1.20 to buy.
Comment:
Welp that head and shoulders botched badly. The new place to buy is right on the yellow line where the old ATH was.
Comment:
Buy target changed to 1.87. This is because it appears we are making a zigzag pattern which retraces quite deeply often to the 1.618 retracement level.
