The AB=CD pattern is very much easy to identify on charts and is a classic chart patterns which is repeated over and over again and at times shows perfect harmony between price and time
1. It consists of 2 equivalent price legs.
2. It has specific Fibonacci measurements of each point within its structure.
3. The amount of distance and the time it takes for price to travel from A to B is equal to the time and distance from C to D
Important thing to note - Nifty Weekly has formed AB= CD Pattern,
1. AB leg is of 2142 points and took 27- 28 weeks to form.
2. CD leg was expected to be 2142 .CD Leg is now hovering near its completion point{ 10037-10043) Hence price action at these levels are really critical to watch.
3. 10040-10045 is very crucial for the index
4. Since today is Friday, last trading session of this week , hence today's closing is very much important.
5. if it closed below these level, minor correction possibility cannot be ruled out.
1. It consists of 2 equivalent price legs.
2. It has specific Fibonacci measurements of each point within its structure.
3. The amount of distance and the time it takes for price to travel from A to B is equal to the time and distance from C to D
Important thing to note - Nifty Weekly has formed AB= CD Pattern,
2. CD leg was expected to be 2142 .CD Leg is now hovering near its completion point{ 10037-10043) Hence price action at these levels are really critical to watch.
3. 10040-10045 is very crucial for the index
4. Since today is Friday, last trading session of this week , hence today's closing is very much important.
5. if it closed below these level, minor correction possibility cannot be ruled out.
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