Like you should not have a long position on the S&P 500 at the same time as you are short on the Dow Jones, you should apply the same rule to different time frames. A trader should always remember to look first at the "general weather situation" before moving on to smaller time frames. One can see a trend reversal on a 15 minute chart but when looking at the daily chart, it appears only to be a correction of a bullish trend. The "the trend is your friend" rule applies also here.
Here is one example of a well constructed position:
Picture 1. We start the trading session by looking at the daily EUROSTOXX chart. We are now at breaking point 2 and see that this could be used as a trend confirmation.
Picture 2. Next we move to a samaller timeframe, for example the hourly chart. We can now identify a formation here and place our order. The direction of the position is now the same as the direction of the main trend.
Picture 3. to give you a hint what it would look like on the 15 min chart.
