This joins longer term market condition with current structure, oftentimes a potent mixture. Lastly, tick counts act as a surrogate for volume analysis of demand. Time regulates the markets. It validates price, leading to value. An overlooked element of time is it's necessity in market evolution.
Price alone is very volatile, moving up and down, sometimes very quickly.
The trader who realizes that time must pass before decisions can become clear is a trader who will likely avoid the trap of excessive trading. Some knowledge of the Market Profile is assumed. The trader who is unfamiliar with profile techniques is advised to investigate the information sources contained in the paragraph above entitled 'Market Profile Methodology'.