4) This is the very most basic meaning of the word "Time and Price".
It's not just about New York, London, and Asian Session Time Versus Price movement during those times, but also about recurrent Events outside charts, and happenings outside Fixed economic events and Calendar News releases.
Understanding how normal business operations in real life work, can be relatable to how market operations from different Institutions will likely work from a common-sense point of view, which can also aid us effectively in trading.
It must not always be complicated to make sense. Believing the Simple is also Sense.