All the elements point to an ideal Bearish Bat forming.
1) 50% retrace of the XA leg at B
2) 1.27AB=CD lines up close to 88.6% retrace level of the XA leg
3) BC leg projection of 2 also lines up close to the 88.6% retrace level of the XA leg
4) Additionally, previous high resistance zone also lines up close to the 88.6% retrace level of the XA leg.
Plan is to look out for signs of price rejection at Point D to short.
1) 50% retrace of the XA leg at B
2) 1.27AB=CD lines up close to 88.6% retrace level of the XA leg
3) BC leg projection of 2 also lines up close to the 88.6% retrace level of the XA leg
4) Additionally, previous high resistance zone also lines up close to the 88.6% retrace level of the XA leg.
Plan is to look out for signs of price rejection at Point D to short.
