Anyway the purpose of this post is to basically demonstrate that intraday, or day-trading timeframes are also worth trading, given they fit your trading personality as well as having practiced well enough in order to trade them, because they are a totally different world. For some people these timeframes are way too fast so they rightfully choose not to trade them and instead stick with the higher ones, like the D, W, M etc. What is really frustrating though, is the fact that people who choose not to trade these timeframes, completely dismiss them saying that noone should trade them, because they are completely unreliable and un-tradeable. Now, it is true that these timeframes are harder to trade, and given their fast-paced nature they may seem as unreliable to some people but that does not mean that one cannot or should not trade them. Let's not forget about the nature of the markets, and particularly speaking for , which happens to be the core of my analysis. As taken from the book "...To say, the Dow Jones Industrial Average is in Minute Wave 'v' of Minor Wave '1' of Intermediate Wave (3) of Primary Wave '5' of Cycle Wave 'I' of Supercycle Wave (V), of the Grand Supercycle, is to identify a specific point along the progression of market history.." (Prechter and Frost, 1978). This chart demonstrates what was quoted above. Even though we are looking at the 15M timeframe something else is occurring in the 5M timeframe, just like something else is occurring in the W timeframe. The point I'm trying to make is the fact that whether it is the 5M, or 15m or even 1M does not constitute them invalid, or wrong or unreliable.
Now looking at the chart we can see how valid patterns do form in the lower timeframes as well (again in the 5m it would have been much clearer but they can still be identified on the 15M) and had you been trading on that specific day you would have had 8 different opportunities to jump on a trade, even on a choppy sideways move like this one. Does it mean you should have taken all 8? No but my point is that opportunities do exist day in and day out, and day-trading is very plausible, given you have the right strategy and trading plan for yourself.
Even if we take a simple example from other markets, consider Stocks, and particularly Penny Stocks (that are listed on the NYSE, ARCA & NASDAQ). I will not generalise or give this as a fact but judging from what I've seen the trading timeframes with those assets are mainly the 5-minute and 1-minute, which does make sense, because I don't know why one would want to buy and hold a penny stock.
Concluding, I am not saying that one should just jump on the lower timeframes after reading this post and start trading them. It will take a lot of practice, and it's always wiser to master the higher timeframes, identify the patterns there and then scale down. But again trading these timeframes is very much possible.
P.S I want to give my many thanks to @David_Giraldo, who has opened my eyes and made me realise that these timeframes are indeed tradeable, as I had also dismissed them from what I was hearing other people say. Go have check out his profile as you will learn a lot from him too.
Bibliography: Prechter, R. and Frost, A. (1978). principle - A key to market behavior. 11th ed. Gainesville, Georgia USA: New Classics Library, p.28.