Just to re-hash and beat an old drum, the 5 min chart is like the trim tab on a sailboat, for you sailors out there. It is small and insignificant, seemingly, but very powerful as it assists in "steadying" the course. Same too with trading, looking at the 5 min every once in a while will give you some insight into what is happening "underneath" the current 15 min bar that is forming. This is important, especially at the end of a run, where price might be trying to do an "end run" or "sneak attack" in the opposite direction to what you're thinking, while you're not watching, of course. But, like I say, don't dwell in "5 min land" as ex-stock traders are wont to do. They are scalpers by nature, but will very quickly get scalped by the forex, as one of my new customers has recently found out the hard way. He now puts a trade on (with stop in place for sure), and goes to the airport to pick up company, or goes outside to clean the swimming pool – only to come back, and see how much money he has made by not obsessing over every little movement. I'm not saying don't pay attention, but what I am saying is too close is too close. Once you catch the trend, and enter a trade because you saw something in "reading bars," MACD divergence, pivot points, trendlines, or price action, let price steer the course, and "wait patiently" for the next event that will cause you to take action. Of course, that action will be taken again because you saw something in "reading bars," MACD divergence, pivot points, trendlines, or price action. If you don't see anything significant, then DON'T DO ANYTHING. Sit on your hands. Don't press enter whatever you do! Oh, and before I leave this point, with a market maker I recommend, you don't have to leave the 15 minute chart to "peek" at the 5 min chart to see what's going on at that lower level, because they show the tick-by-tick action right on the 15 min chart, as the next 15 min bar is waiting to form.
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