Why Doesn't It Appeal To Most Traders?

Well I think there are three main reasons. The first is simply because many traders start off with a relatively small amount of capital to trade with, and therefore cannot really use the larger stop losses that you need to employ on the longer-term charts.
For example if you were to trade a major EMA crossover on the daily or weekly chart, you may find that you would need to use a stop loss of 300-500 points in case the EMAs crossed back in the opposite direction. Unfortunately this stop loss is simply too big for a lot of smaller traders, even when using smaller stakes, because if triggered it would wipe out most of their capital.
The second reason why many people avoid long-term trading is because they simply do not have the patience to wait months and months for a trade to unwind and reach it's conclusion. Although this is one of the easiest ways to make money because you only need one or two winning trades per year to make a very good living, most people prefer the excitement and the quick results that come with short-term trading. This sadly proves to be the downfall of the vast majority of wannabe traders.
The third main reason why people don't trade the long-term price charts is because they don't know when to exit a position when they are actually in a trade. This is something that I struggle with myself. It's very easy to enter a trade but much harder to determine when you should actually bank your profit.
So the reasons why most traders stick to the short-term charts, whether it's the 5 minute, 15 minute or 1 hour charts, for instance, can be summed up as follows. They either don't have the patience to hold onto long-term positions, don't have sufficient capital to employ big enough stop losses, or are basically unable to determine appropriate exit points for these long-term trades.
There's no doubt that long-term forex trading is one of the easiest ways to make money in this very difficult industry, but not everyone is cut out for this style of trading.