Power, authority of material nature. Ability to change things or cut things down or cut through barriers. Desire to hurt or destroy, or fear of these things. See: arms; weapons.
Idioms: Axe to grind; to be axed lose one’s job.
What is the axe being used for, and what can I gather from that?
Am I using the axe to work at something, and what might that represent?
Am I breaking through an obstacle – and what obstacle is that in my waking world?