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

One can fiddle around time-frames to see what suits one's personality the best for trading & also recognizing the instruments personality. For Indexes using less than 1H or more than 1H is ideal. Personally for me in majority instances 1H for indexes causes lot of whipsaws however the same timeframe works better in other instruments like Stocks/Commodities. Ultimately i would conclude that one should select time frames based on the personality of the instrument traded rather than being rigid about using 1H only!
[Slightly offtopic but , its one of the reasons why i don't like Mechanical Trading Systems , they are just too rigid, moreover Barclay's Index for Discretionary & System Trading also proves that Discretionary has a slight edge over Systems via the nature of drawdowns,returns etc]