not if you know how to read them .... they seldom mislead and if so my loss is 2 pips or less ... don't use oanda charts though they might drive you totally insane ... I use fxstreet.com for charts
I think that you take into consideration both analysis. both analysis are important for trader.but most of times i find technical analysis more reliable but you should not ignore other analysis.this will increase the chances of getting profit from market
most people I know trade 3 minute charts or lower or things like 100 tickcharts ... 5 is conisdered rather big most of the times ....
I often trade by TA but when I heard some good news as American Election 2012, I know if Obama get win, sure the USD will down a lot. I think all traders should use both 2 analysis to trade . Nothing is absolute.
Price action is certainly king but knowing when the market moving news/data is coming out helps to be ready for kickups in volatility . get them value fills to fade a reaction