Fixed horizontals such as daily high/low; weekly high/low; overnight high/low; daily pivot support resistance etc. are of tentative value in trading as their use in trading based on mathematical analysis has not been done. The same can be said for dynamic horizontals such as EMA or dynamic channels such as keltner.
5 days or 1 day, or 3 days or 7 days. It is arbitrary. Until that is understood, the questions will continue. Stop looking for "solutions" and "optimizations" in arbitrary frameworks.
If it makes you money, then you have your answer. I always keep one eye open on what the majority might have their eyes on. (just so I can fade another false breakout pin bar)
Definitely, higher time frame always takes precedence over the lower time frames. Not just on support and resistance, but also on patterns and trend direction. (If you trade the daily charts, then unless you look at the weekly chart, you mind not be able to see the forest for the trees). Smaller time frames are good for timing entries.
As a volume-centric intraday trader I don't use SR, at least not in a "normal" usage/sense. What I do use for price levels is Volume by Price, which is a derivative of Market Profile. Even more specifically, Naked Points of Control. Here is my price scale from a few minutes ago from a DAILY ES chart I use for reference. IOW, it's not my trading chart... I'm an intraday trader... hence a reference chart. Yellow = DAILY NPOC Pink = WEEKLY NPOC White = last price print. Notice how there is confluence of a daily npoc and a weekly npoc. The current pricing is right there too. Not to be dismissed is the fact overnight hours are (usually) very low volume. Without a catalyst (which could simply be an outsized volume trade from Pajama People), price is unlikely to stray very far. And if it does, the upside has a daily npoc at 4507.5 that would likely contain the upside before there is some big air to upside. On the downside there is a (tradable) confluence zone of daily and weekly npocs between 4415 and 4402. With another daily and weekly confluence level at 4348.75 Good trades to all.
The timeframe to watch is the one a trade is placed on plus the one above is what matters most. If one trades on a 5 minute bar, as I do, the fack I care about the weekly (or daily for that matter) - other than when price approaches the OHL or C of the weekly/daily. Which might be something like 500 5 minute bars later (i.e. 276 5 min bars in a full 23 hour globex session).
%% THAT; weekly[5-6-7 days] ,52 weeks, 50 dma, 50 week moving average. i like to look @ most anything except 5 minute candlecharts=too much noise. Even though you coUld write doWn bid\ask every 5 minutes for week[5-6-7] days like LBR noted ; but thats simply lot of bid\ asks for 5-6-7days, much more than the 5 minutes sections.......
None of it matters in '23. Buy every dip it will only V. Even if you see a potential weekly bearish pattern it won't matter since this market is never going down.
%%\ Say it was little past nine\ It was only a matter of time; .........pulled up/ in a pick UP truck/Sara Evans song SEPT tends to be bearish for QQQ \however I would not buy v \or buy v in 23\ sept QQQ