AMP Bullish harmonic cypher showing potential price outbreakHello
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.
