One of the things that struck me recently, as i have been analyzing intraday charts for last 6 months, one thing i noticed is that its a usual thing to be using hrly charts for analysis. But like a days candle is supposed to contain 1 days trading action, similarly 1 hr is supposed to contain 1hr hrs trading action. But as markets are open for 6 hrs & 15 mins, every day we are having an hrly candle which only contains 15mins trading action. now that means 1 of every 7 candle is flawed, thats 15%, thats too big a margin for error i feel.
This leads me to thing, shouldnt we be using different time frames according to market timings than std timings like 1hr or so.
More dicussion & comments are invited on this topic