[014] Shift of an Auction
As an auction in one direction comes to an end, the participants on the other side have their own opinions of validating this move. To an Intraday Player, this validation may be as early as say, a Five (5) Minute High/Low being broken. To a higher timeframe player, the smaller fluctuations may be entirely irrelevant to their opinions and may require say, a Weekly High/Low + Close to change their minds.
Ultimately there will always be only one Truth, and that is Price. If you don’t obey, you won’t be around. It’s as simple as that.
There are two statements I want to draw your attention to :
Short below 15730
Found a buyer 15810
By the release of my updated thoughts on 12/07, I was aware of this threat and 15930.
Read my thoughts here : Sequence Four
![12/07 RTH [Updated]](https://substackcdn.com/image/fetch/$s_!aqSy!,w_140,h_140,c_fill,f_webp,q_auto:good,fl_progressive:steep,g_auto/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2d1c6bd2-cfcd-4753-bdca-9fed999d6e02_1716x1114.png)
Over a month ago I understood the possible re-bid auction for longs at 15730. This became the Low of the Day on 12/04.
By the RTH Open 12/05 I announced that I believe the Market found a buyer at 15810. This allowed Our Pivot 15930 to mark the Low of the Day + Swing Low of recent sessions (12/07+12/08)
This is essentially how I perform Auction Validation, whilst being short from better Prices : 16205
16205 : Down Auction w. Initiation
15730 : Up Auction w. Initiation : Reversed
16035 : Down Auction w. Continuation
15810 : Up Auction w. Continuation
This is my ‘tracking’ of the Auction utilizing previous Pivots // Structure. I rely on intraday Orderflow to define direction. It’s on us to understand the Shift in Auctions.