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January 24, 2014

Hello Theo,
When a support or resistance level is broken, we anticipate the level may act as a 'mirror-flip' support/resistance level. If the 'mirror-flip' fails to hinder or halt price, ie, price slices through the level, do you then ignore, and remove from your chart any horizontal line representing the level?
The 'split double-tap (head & shoulders / reverse head & shoulders) would be a different case would it not? I mean a horizontal line would be taken from the left shoulder, through the head and extended to the right. If the extended line was not tested, would the level still be considered active as a potential resistance level?
Also, when do you consider support & resistance broken? What does price have to do to confirm the level is broken?
Pepe.
Without you (price action), I am not worth a [s]cent.
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