It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.
Yes it matters!
If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN? The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up. we are at the end of a long uptrend. and the 1d chart referred to shows a potential head and shoulders. the second peak being the all time high.
We are clearly talking about different timeframes.
I was talking about short term.
Fair enough! one mans 15min Bull flag is anothers 1 hour bear flag.
I was gonna sell at 970+ on cavirtex would've been wise. but alas I really would' prefer to just let the market be while I do other more important things like drink shots of tequila with Tabasco sauce