$AXS grinding back into weak highs but the structure still favors downside.
Trading Plan Short $AXS
Entry: 1.19 – 1.24
SL: 1.30
TP1: 1.14
TP2: 1.08
TP3: 1.02
$AXS has rotated back into the prior breakdown zone, and the current bounce lacks real strength.
The move up appears corrective rather than impulsive, with no clear expansion in momentum. Each push higher is meeting supply, suggesting sellers are actively defending the lower high region.
There’s no structural shift yet buyers haven’t reclaimed key levels or shown sustained follow through. As long as price remains capped below 1.30, the bias leans toward continuation.
Liquidity sits beneath 1.14, which makes it a logical first magnet. A clean break there opens the path toward 1.08, with a potential deeper sweep into the 1.02 base if selling pressure accelerates.
For now, this looks like distribution into resistance rather than accumulation for a breakout. Risk management remains key invalidation is clear above 1.30.
