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Does looking for support and resistance levels on higher time frame increase probability of an MTR being successful on a lower time frame? For example, you look for support and resistance on 1h, and then you look for an MTR on 5 min when it reaches that level. Is it worthwhile to look for support and resistance on higher time frame chart, or is it better to just buy every MTR setup that comes on the 5 minute chart while ignoring the 1h support and resistance levels?
Higher time frame (HTF) support and resistance are important and you can have a look on them providing they increase your confidence and not reduce it (sometimes conflicting signals). Try it to see how you do it with this "added" data when analyzing the 5 min chart.
Regarding MTRs, they are low probability trades so bad for cherry-picking. Take all of them and expect only 40% to give a swing profit!
