$AMP The falling wedge pattern observed on the 4-hour chart indicates a potential bullish breakout ahead.

This pattern is typically seen as a signal of price consolidation before an upward move. Here’s a complete breakdown:

Current Market Status.

Pattern: Falling wedge.

Phase: Accumulation.

Bias: Bullish on breakout confirmation.

Trading Strategy.

Buy Zone.

Enter between $0.0080 - $0.0085

This range is close to the current support levels where accumulation is visible.

Targets (Upon Breakout Confirmation)

1. $0.010 – First resistance zone after breakout

2. $0.012 – Second major target based on historical price action

3. $0.013 – Extended target for strong momentum

Stop Loss

Place a stop loss at $0.0075

This level ensures protection against invalidation of the wedge pattern.

Key Indicators to Watch.

1. Volume: Watch for a significant spike in volume during the breakout to confirm the move.

2. RSI (Relative Strength Index): RSI crossing above 50 supports bullish momentum.

3. Trendline Breakout: Price closing above the upper trendline of the wedge confirms the breakout.

Risk Management.

Risk only 1-2% of your total capital per trade to manage exposure.

Keep monitoring broader market conditions and news that may impact AMP.

Note.

Always wait for confirmation of the breakout before entering the trade.

If the price closes below the wedge's lower boundary, the bullish scenario may fail.

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