Auction
Acceptance and rejection
A wick is not a decision. Acceptance is trade building beyond the level. Rejection is initiative that is not paid in price.
The level is where to look. The question is whether executed flow builds on the other side, or whether aggressive order flow is absorbed and price returns.
Acceptance is time and volume beyond the level. One print through it is not acceptance.
Rejection is the response, not the first touch. A sweep is only the liquidity event. No follow-through after it can be rejection. It is not a breakout, and it is not a failed auction until that response is there.
Invalidation of a rejection is acceptance back through the level. Invalidation of acceptance is a failure to hold the side that was accepted.