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Elemental Masters be crazy.

With increasing numbers of frankly awesome 5-cost phoenixes, plus the existence of Fushicho, two things have become increasingly clear to me:

1) Every deck should find room for 3x Cloud The Mind.

2) Charge should be the restricted card of choice for Phoenix decks. I know Against The Waves can come round twice, but the 5-costers are just so impactful that cheating one into play is a big, big advantage. 3 Charges, 3 Reprieves. Done.

Things to note about this character:

- The glory is perfect, making it impossible to shut down an attack with just dishonouring, but making it big enough to contribute to favour nicely, which given the boosted water effect it often will.

- Strong water synergies already exist, of course.

Important to note is that her ability only does things if you are attacking on the water ring. This means that you are likely defending on the water ring, which has the keeper of water bonus if you can win in defense, but this is a nice way to neutralize a 5 coster's ability. She is good, but I do not think I would run her over Tadaka or Tsukune in the 5 drop slot. 

I do think that your observation is accurate that charge might be better than against the waves for Phoenix. I often find Clarity of Purpose doing more for keeping characters unbowed anyways. It also helps that there will be a playable one drop soon in the shape of Ethereal dreamer. That's another great card that will help save fate for the big hitters.

I think Azunami has gotten better now that there is Taryu-Jiai, the glory duel between shugenja which can give you your water ring without having to get into a conflict. You'll need the old stronghold to increase your glory for the duel, as well as because you want synergistic cards like Fearsome mystic for Taryu-Jiai.

The issue in the mirror with charge vs against the waves exists, but is mitigated because you are playing less shugenja than the usual, because the several of the best charge targets(Shiba Tsukune, Fushicho, Chikai Order Protector) aren't shugenja. Plus, you will have access to fight on! if you are splashing crab for reprieves. As an extra bonus: If you get bowed by ATW, you can Taryu-Jiai to unbow with the water ring. Especially with Azunami!

In order to accomplish 100% of Azunami's ability you have to attack with water in your second conflict or have a bowed character if you play second in the round which is situational especially when you play first in the round. Isawa Kaede is a bit better of Azunami despite the fact that she isnt an elemental master. I prefer 2 attacks or an attack and defence with my shugenja (& keep it for a couple of rounds) rather than 1 attack or 1 defence and leave in the end of the round. Especially when in mirror matches the charge deck has a major disadvantage vs the atw deck.

It's not THAT situational.

As you say, if you are second player, and you defend the first conflict against you, then your first conflict as water will allow you to ready a character that just defended.

Also if you use Benten's Touch or Tattered Missive (or at a stretch, Being and Becoming) during your water conflict, you could ready the character that bowed as the cost. Notably Benten's Touch synergises very nicely with this character having 3 Glory. 

Or (and pushing it now, I know) you might have a character that has been proactively bowed (by For Shame, or LPB, or AFWTD) that needs to be readied, with more options generally if you have Favourable Ground. Though of course, practically speaking this is reducing opponent play options for the turn rather than countering them reactively.

Even if you can't match that situation, being able to open water on first conflict and bow ANY character is really strong in itself. Likewise, getting a high glory character stood to win Favor is not to be underestimated when Phoenix relies on Censures for cancels, and can needs favour so much with Sanpuku Seido and Kanjo District.

Sure, it's all fiddly combos and synergies, but in my experience, that's where phoenix shines - having so many fiddly combos and synergies that they tend to emerge at high frequency.

I think Azunami has gotten better now that there is Taryu-Jiai, the glory duel between shugenja which can give you your water ring without having to get into a conflict. You'll need the old stronghold to increase your glory for the duel, as well as because you want synergistic cards like Fearsome mystic for Taryu-Jiai.

Agree with that. Also, it's a lot easier to win water conflicts now that Feral Ningyo is about.