I am following though, I understand that there are those that cross reference all charts to get a better understanding of where the 1hr, 4hr, and even daily chart is going. I myself use the 5M chart for my scalpers strategy. Low investment capital, so I'm going for short winning trades right now due to my lack of experience and trust in my decisions.
For instance:
I only shoot for 10 pips, and once I reach that mark, I set my stop loss at the ten pip mark, now, if the market takes me out, so be it, because I can't afford to lose any capital, but if it keeps me in, the pay off is much greater. Every once in a while it goes in my favor, and I seriously can reap the fruits.