Bit extreme You could just trade a daily chart quite successfully without referencing other time frames.
And better yet, the best entries are found lining up prev daily H/L/C for entry...On the 3,5 min charts those will probably look like triggered buys/sells...i.e. the controlling TF traps the micro TF chasers.
For smaller or higher risk accounts probably yes, but I like daily cycles, not restricting to yesterday's action, broader price action. Sorry, misread your post, definitely for entries smaller time frame based signals are good to maximise profit potential.
Basically what I'm saying is that the best entries,even on the smaller tf, will be triggered by Daily tests of previous day/day's S/R...Granted, that usually means there aren't multiple signals per day via the micro TF and that is a drawback. OTOH, the market is never really "closed" and many of the best entries/exits occur outside of RTH...Last night is a perfect example.
I prefer confluence of levels between SPX/INDU/COMPQ/NDX/NYSE/RUT. Have you noticed that sometimes ES would overshoot it's obvious daily resistance and when you check NQ price is still climbing towards it's resistance? I have 1 monitor with those 6 daily charts open with horizontal levels drawn plus a 10 period SMA.
Sometimes I find one of them hits and reverses and the others dont get the chance. any research on that? or do you believe that they all need to target those types of certain levels?
Confluence IMO is more important than opportunities missed. Also, I do prefer multiple rejections to singular ones.