🔥 be prepare for the next AXS big pump 🔥Hello traders 🐺 .
around 2 weeks ago , I was look at the AXS chart and realize that the AXS have a very good chart for opening long position but at that time , price still needs to broke above the daily resistance line ( blue trend line ) , so I closed the AXS chart but unfortunately completely forgot about it , and today when I was scrolling in my watch list accidently was click on the AXS chart , at that moment I said oh man what a trade you miss 😂😢 .
but it's seems that price still can't break above the daily structure and currently is in the flag pattern , which as you know a bullish continuation pattern , so we can trade based on it and the W pattern formation and take advantage of a big pump ; so let's talk about the pattern :
1_pattern :
As you can see in the chart above , AXS is trying to break above the daily resistance (blue box) which is also the neck line of the W pattern and the interesting fact is that the AXS currently forming a bull flag which is more obvious on the 4H char t :
2_EMA Ribbon :
you can see that EMA Ribbon currently is flipping bullish and this a good news for the AXS holders , or bulls and it's seems that price is trying to retest the EMA Ribbon and also the purple support box .
3_TSI & RSI :
In the RSI value we had a bullish divergence which is a good sign for the AXS bulls and last days pump is because of that divergence which is showing us that the bulls is trying to reverse the AXS trend and also we can see that the TSI is breaking above the zero line which is also a bullish signal .
4_price targets :
W pattern price target :
as you can see the W pattern price target is around the 0.618 Fibonacci level , but this is a mid term price target for the AXS but about the short term price target I can say that the next level of the resistance for the AXS is around the 0.382 Fibonacci level which is also the bull flag price target :
This is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .