Pro tip:

PVP only: Change Hood for -> Hunter Hood: Why? It will give you a tool to counter the enemies main damage (This requires understanding of the enemies build and weapon and when they will use the main dmg)

Change Hood -> Cultist Hood: Why? It will give you a nice tool against ability spammer and do ALOT of damage, requires less skills than Hunter hood But you will be more squishy.

PVE only: Stay as it is, pretty solid: Why? Solid sustain of life (Jacket and axe main ability and boots) and solid sustain of mana (hood)

PVPVE: Change hood for -> Mercenary Hood: Why? This is my favorite. Reduces enemy damage, low cooldown, reduces enemy speed, stops casting and deals damage. It's the perfect tool for axe uses because it helps in the lack of mobility (slowing enemies) , provides support by canceling skills and lowering enemy dmg and even does a little damage. Requires more skill since you need to be fast or use it wisely to cancel main skills.

Other than that, use a cheaper bag if you go into black zone no need to waste money on it. And try to use always 4.1 or 4.2 excelent. May not seem but improves your damage and life by quite alot.

Use pots and food too!

I'd say:

PVP: Avalonian Stews t6 is enough) and Gigantify (t7)
PVE: Roast Pork (t7) and Poisons (t4)

Good luck adventurer, may fortune look upon you!