It's not a simple question and REALLY matters ALL of the time, so, finding a simple answer is a neat tool to have in the snuff-toolbox.. Here's the quickest, easiest down-n-dirry method for getting closer to an answer. If you look at the ranging areas of the chart. The in-between, sideways, messy, wish-it-didn't-exist areas and draw a rough shape tracing the...
Aside of the usual things ie waves & levels, being on a given resolution, mainly we are interested in the direction in which trading activity develops (so called, trend, gradient, slope etc). It is not exactly necessary if you follow a vehicle on every resolution, this way you always know the direction by simply understanding whether we are in low res buying wave...
Market develops in FRACTALS. Understanding how each timeframe is developing is important in timing our trade entries. When we decide to take any trade, we now have a better understanding and expectation of our trades. Practical Exercise 1) Find an example where the two timeframes' bias are aligned. 2) Find another example where the two timeframes' bias are...