After taking a correction of more than 40%, AXS is now primed to have a brief move up to retest the 1.618 level from the wave A down. By no means is the correction over though! After that retest we will see even more correction and it will be a great place to enter short positions. The downside target is currently 2.90 since there is a strong support there.
Comment:
By the way, the absolute minimum retracement is the 3.13, any lower is a bonus but not a certainty.
