In the 2hr time frame (left), price begins a distribution ( ). This happens as momentum is shifting, as weekly support lost (resistance) levels are tagged for the first time. The weekly chart (right) is not setup to rip higher yet, as downward momentum must first be offset. Zoom out and you can see the huge leg down.
Momentum moves when you finally have all your timeframes working in the same direction. When the offsetting of the and or surpasses the other. This is true in all timeframes. Why do the longer timeframes have to participate? Because the longer timeframes are the truer representation of the market status.
Putting it all together:
The longer term trend rules.
The shorter term trend can show you the trend changes early.
If the shorter term trend is sustained and strengthens, it will affect the longer term trend.
Complex chart patterns form due to the offsetting of and volumes between short and long term timeframes.
When timeframes are inline with each other in direction, you get moderate-strong moves
News happens, but release is usually late - reaction to news is set up prior to release. The release of news accelerates the outcome.