Sometimes, I get greife for my heavy use of the intra day charts, like the 3 and 10 minute chart, because I rely on them so heavily. I have to say however, they they almost ALWAYS tell me when the daily chart is giving me a false signal.
The 10 minute chart, although showing some small quick trades to the long side last night, started to give signs of impending doom by 4AM. By 4:20, the confirmation was in.
Yes, I know this is hindsight and all (although I was up and watched it happen), the fact remains, that your intraday charts can be like a literal "Crystal Ball" when it comes to weeding out real, from false signals.
