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.