There are many reasons I watch higher time-frames even though I don't trade off them:
These charts are useful for avoiding the manic down trends where down-to-up reversals are few and produce only minor up turns...such times most often produce reversals that are too short lived with runs that don't allow enough of a positive reaction to profit from.
I often avoid trading in the hours following the major markets 9:30 AM openings... and also after/during news events.
I don't sweat missing some opportunities that may present themselves during active markets... -- There is ALWAYs another trade ! --
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