JMO. The 3 best opportunities to profit immediately are past. 1st was in premarket. 2nd was in first 5 minutes and 3rd was about 10:30 to 11:35. Hard to say when next opportunity will come. Typically it is best to wait out the long slow meltdown pairing the 1minute and 5 minute charts as you pointed out. Since price movement starts with shorter time frame and moves to longer, adding a 15 minute can be useful in helping determine if there is strength building beyond the 5 minute. For now I wouldn't pay much attention to anything over an hour. Looking for support and resistance is essentially the same process for any time frame. I mostly stick to the 5 minute for trading signals and confirmation in situations that require fast action, while looking for likely support/resistance on the 1 minute chart.