Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.
Well you need to see from another point of view.
Trading is about forecast future. You need to estimate if pair move up or down.
It is like weather forecast. They could do it for today or perhaps tomorrow. For a week or month? It does not work:)
So IMHO trying to forecast future for very close time has better success than for long term.
It's the other way around. Look at forecasts from major banks. The don't have a forecast for the next 15 minutes or the next day. For them it's about what will happen in the next few months or years.
I agree with this, in this way we can observe with a vision more aplia than what has happened, for the power to predict sometime what will happen.
All of these large banks predict for example EURUSD will go to parity until end of the year.
Forecasting future of currency is like forecasting the weather - the longer time period in advance the more foggy results.
It is much easier to predict where will the currency be in next hour then next month.
Especially with big events like
09:30 EUR German Manufacturing PMI (Dec) 63.3 62.2 62.5
13:45 EUR Deposit Facility Rate -0.40% -0.40%
13:45 EUR ECB Interest Rate Decision (Dec) 0.00% 0.00%
14:30 USD Core Retail Sales (MoM) (Nov) 0.7% 0.1%
14:30 USD Retail Sales (MoM) (Nov) 0.3% 0.2%
14:30 EUR ECB Press Conference