Then why not today's action not failed auction?
means in 1st hour
Today,open below VA.So failed auction is possible if price break IB to the upside without any 30min candle closing below IB.Is there a break of IB to the upside in your 30min NF chart today?
Failed Auction checklist.
1.Open outside VA.
2.No 30 min close beyond IB in the direction of open (means no continuation).
3.Break of IB in the direction opposite to that of open(means price rejection).
IB=First 2 30min candle or first hour range.
VA=Previous day value area.
Open=Today's opening price.