I am learning about tick-sensitive orders. I know that there are two kinds of tick-sensitive orders:
Buy downtick order: can be filled only on a downtick or zero downtick price.
Sell uptick order: can be filled only on an uptick or zero uptick price.
However, in Trading and Exchanges: Market Microstructure for Practitioners by Larry Harris, the following question appears as an exercise (chapter 4, page 88):
Why are there no buy uptick and sell downtick orders?
Indeed, why? I've been thinking about this for some time now, and I can really figure it out. As far as I can understand, tick-sensitive orders are not replaceable with regular limit orders or market orders, so why don't "buy uptick" and "sell downtick" orders exist?