Anjan, let me drop in with my 2 cents, as any methodological approach will agree with what I'm about to say.
First, I think it is a good thing you are using multiple TF's to confirm your position.
If you got the 5m, 15m, and 30m yielding a sell signal, and the 60m a buy, then you probably have all the little guys ganging up on the big guy. Personally it is a situation I would wait for the lower TF's to play out, then wait for the long entry in accordance with the hourly.
I could post a chart but won't take up room on ST's thread with it, but I could see clearly the EUR/AUD was going to retrace to 1.2547, but it was going to be after I went to bed. So, I set an entry for 1.2540 to affirm I would get into the trade, and it peaked at 1.2544 in my sleep. That was where the hourly and 15m was showing the move UP, but the daily was still pointing south.
The study in this thread is trading with an oscillator. The principle is still the same:
Don't trade against the higher TF when there is an obviation. Let the little guys have their way, then jump in for the ride.
Dear ST,
How should we take intraday position when 60 min stoc is in buy sgnl and 15 min stoc is in sell sgnl, 30 min stoc is in sell sgnl, 5min stoc is in sell sgnl , today
Confused ? should I go with 30 and 5 min or taken confirmation from 60 min stoc sgnl.
At your free time please answer.
regards
anjanbm