This article was inspired by a discussion I had with the great @PeterLBrandt. There is an important distinction, though: everything discussed above is primarily about lower-time-frame trading. On the LTF, we are effectively analyzing the game as it is being played. We watch the offense, the defense, the battles in the trenches, and the shifts in control, and when the odds move sufficiently in our favor, we bet on the eventual result. Peter operates on a much higher time frame. He is not trying to analyze every snap, every drive, or even every individual game. He is looking at the whole season. At that level, the results of countless smaller auctions have already been compressed into price itself. Trend, structure, major highs and lows, and the behavior of price over time become the primary source of information. Looking inside every individual game can sometimes improve the larger read, but it can just as easily add complexity and noise that a higher-time-frame trader simply does not need. So my conclusion is: LTF: read the auction. HTF: read the price. Nothing else needed!