First, you have to go to Mistraliton cave. You can get to it by Surfing on the river in Route 6. Then, when you get in the cave, you have to keep going up the sets of stairs until you get to the third floor. You'll know you're on the third floor because it will tell you that you are in Guidance Chamber. You have yo talk to the old man and he will tell you a story. Then, you have to get through the very simple maze and you will see Cobalion. I would recommend that you use Timer Balls and that your Pokemon are at least level 35 (probably higher). Good luck in catching Cobalion!
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Leave and return to the cave and Cobalion will have returned. So then you may capture it. I suggest Timer Balls.
Mistralton cave on route 6.
once
No.
acually there is but not Reshiram or Zecrom but you can get cobalion terrakion and virizion