Been using 5 minute but finding it sometimes eratic or not gaining the ultimate profit i should be.
If it’s too erratic for you, try moving to a higher timeframe.
Use of timeframes is relative.
I use 5 minutes time frame to trade the news because the break of it’s S/R levels determines the direction of price after that release.
You should use 30 minute, 1 hour time frame. These will offer you better analysis report to take decision.
definately
I use all of them and sometime I use none of them. Depends on the event 
according to my observation you need to see if the news are :
- high impact
- middle impact
- low impact
If high impact and really important like NFP, suggest you to wait in 5 minutes or 1 minutes chart since this is the big move can be seen most clearly.
if the middle or low impact, I think wont move the market so fast you can use M30, H1 to watch it.
Hope that’s help.
Daily, for directional bias
4h, for chart pattern recognition
and 5min for entries. :D!!!
I use 10 minutes, usually volatility slows down after 10 minutes