NIFTY :ABCD in process

Bearish ABCD Pattern Rules
Find AB
Point A is a significant low
Point B is a significant high
In the move from A up to B there can be no lows below point A, and no highs above point B
If AB, then find BC
Point C must be higher than point A
In the move from B down to C there can be no highs above point B, and no lows below point C
Point C will ideally be 61.8% or 78.6% of AB
In strongly trending markets, BC may only be 38.2% or 50% of AB
If BC, then draw CD
Point D must be higher than point B
In the move from C up to D there can be no lows below point C, and no highs above point D
Determine where D may complete (price)
CD may equal AB in price
CD may be 127.2% or 161.8% of AB in price
CD may be 127.2% or 161.8% of BC in price
Determine when point D may complete (time) for additional confirmation
CD may equal AB in time
CD may be 61.8% or 78.6% time of AB
CD may be 127.2% or 161.8% time of AB
Look for fib, pattern, trend convergence
Watch for price gaps and/or wide-ranging bars/candles in the CD leg, especially as market approaches point D
Traders may interpret these as signs of a potential strongly trending market and expect to see 127.2% or 161.8% price extensions