I could not disagree more with you. If you havent found what works for you intraday, then its easy to see how one could believe this. But once you have, you realize how silly all these TA threads really are.
10-15 years ago I quit using volume. It seemed to me to have lost its correlation to market behavior. Market Profile is about "volume traded at various prices within a range".... irrelevant in my plays.
The smaller the timeframe the more noise you will witness therefore I absolutely agree that TA is more effective in larger timeframes. Anek
I respect your input but if I may add. I absolutely agree with your view of Market Profile. Volume traded at any price level is irrelevant to the overall price movement as it relates to individual charts but volume still has value in creating the viewable oscillations that price creates as it moves. Constant Volume Bar charts do not create any relevance to volume/range correlations but it sure shows the shear smooth fluid flow of price.
Another great point. Speed increases noise. Over time one can learn to see the less aggressive trades in those faster charts but it take more patience and effort than most traders what to put into it to see daily profits.
If stock prices behaved like fractals it would make no difference which time frame you use. In fact, estimation of the Hurst Exponent - an estimation of the predictability of a stock, assumes that price behaviour is fractal - which is partly true. Take a look at a chart without numbers on the axes. which time frame is it? minutes, days, months? This implies fractal behaviour.
Stock, Futures, Commodities, Option Currencies, etc. . . . they all act fractally. Then it depends on the environment those fractals are created inside, so one is able to see the smoothness of the overall oscillations in specific fractal charts. Fractals applied to chaotic and variable charts will result in chaotic and variable results. Fractals applied to fixed and non-variable charts will result in fixed and non-variable results.
You can adjust car size accordingly. Besides, greater targets, greater accuracy, less commissions. Anek