Hi Jeff, Thanks for the question. It can be a bit confusing. I am assuming you are referring to a structural pivot (low or high). In an uptrending market, a structural low is confirmed when price makes a new high ( a breakout in most technical books). In a downtrending market, structural high is confirmed when price make a Lower Lower (a breakout). The wiggles inside of the major swing are NOT structural in relation to the big swing, but can be structural to a lower time frame chart in the same market. So, real question is Why isn't structure structural until a new high or low is made? It's a fact that the pivots are created by the whales. The are in control, and don't chase the market. If they have orders to buy at one price, and they get some, but price moves higher, but doesn't make a new high, then why would the whale need to move his orders. He was happy buying wherever he was buying and will be likely be content buying there again. But when price makes a new high, if the whale wants to make money, he knows that his is likely going to have to step up his orders, or another whale will likely move their orders up above his. So, it is considered structural because now the whale likely has moved up....and you are using him as your "structure". All pivots are equal if there is no whale backing the pivot....the ones being backed are structural areas, and places to hide stops...IMO. Attaching a couple drawings....maybe Maydel or somebody else can describe it better...Hope it helps.....

edit....attachments

(structural 1.png)

(structural 2.png)

structural 1.png (14KB - 29 downloads)

structural 2.png (44KB - 33 downloads)