It depends on the type of trader you are. A daily chart using MAs or even without any indicators will give you the trend, sideways (consolidation), upward or downward. You can see the bias in the market. What makes the difference in the trade is if you\re going long-term, intermediate or short-term on that trade. If I am scalping, then I usually have a 1-minute and 5-minute charts up (after looking at the daily chart) and enter on pullbacks and uses ATR for my PIP target. Now, if you are doing an overnight and forget-about-it trade, then you will be looking at different Time Frames. If you’re a long-term trader, then you look at weekly, daily even monthly charts and you look at other parameters like S&P, DXY, etc etc. In summary, S and R matters and the higher the time frame, the more important that S or R is.