Hi all, I had been watching the head and shoulders formation on the daily EURAUD chart with a view to opening a short once price fell below the neckline, until the run this afternoon. Price is now virtually at shoulder level again. At what point does a H&S pattern become invalidated?
when price breaks the “head” R (or S in the opposite case)?
I’m interested in knowing what price action invalidation means please, what’s meant by the pattern invalidation? Is it when price goes above the price pattern of the Head or the Shoulder in the case of the original poster?