AMP Bullish harmonic cypher showing potential price outbreak

15 Apr 2023

Hello

Today I bring you a harmonic cypher showing bullish signs on AMP.
A typical harmonic cypher pattern is bullish IF:

• The initial leg, the XA leg, rallies higher from the starting point at X.
  
• The AB leg moves lower to retrace the XA leg. This retracement should bring prices to between the 38.2 to 61.8 percent level of the XA leg.
  
• The BC leg moves higher and takes out the swing high at point A, and terminating between the 127.2 and 141.4 projection of the initial XA leg.
  
• The CD leg moves lower and terminates near the 78.6% retracement level of the price move from point X to point C.
  
• Upon the price reaching the 78.6% retracement level at point D, the bullish Cypher pattern is considered complete, and a price rise is expected.
  

The retracement percentage to point D did not reach past 70% but, despite this, all the other characteristics of the bullish harmonic cypher match the one on our chart.