You remind me of the guy who is so convinced that MAs provide S/R that he will go to great lengths to find some MA of some kind, no matter how bizarre, that passes through whatever point at which the price reverses so that he can then claim that the MA "provided support". Until you can present some sort of case, I'll just have to assume that you don't understand S/R. The date on which you registered for some message board is not an endorsement. As for the post count, if you work hard enough at prolonging this exchange, you'll be there in no time.
IMO MA's provide S/R because many people think they provide S/R. More popular the MA is more is the support or resistance e.g. 50dma, 200dma etc on long term charts. S/R lines on a chart provide S/R because people think they provide S/R. Real support or resistance is created only when for instance a stock trade in a range e.g. between $20-22 for a period of time and then breaks down and comes back up in the range and desperate buyers who bought in the range try to sell. JMO
You seem to be making a distinction between "real" S/R and S/R that is not "real". But if S/R is not "real", then it isn't S/R. A line of any kind is not S/R just because somebody says it is. It must actually provide S or R. As to MAs, they don't provide S/R any more than TLs do, but rather than debate the point in perpetuity, just go back through all the TL posts from yesterday and substitute "MA". It'll save a lot of wear and tear on the fingers.
I dint mean to say S/R are reals and unreals or something! By Real S/R i meant a support or resistance which would have existed if there was no such thing called technical analysis in the world. btw personally i pay more attention to technicals than fundamentals. And let me explain what i was trying to say that support resistance levels exist beacause traders think they exist. Lets say there are 1000 traders traidng CSCO and its near 50 DMA and out of those 1000, 800 are thinking that it should bounce at 50dma. Lets say csco falls to 50dma and 2 big players give a little push upwards and the herd i.e. other 798 follows by buying thinking that they are getting the bouce they were expecting. Thus creating a bounce, no matter how temporary or short term it is, in other words we'd say support exist at 50dma.Thus creating short term trading opportunities for traders.
Perhaps you can come up with a better example. CSCO has "found S" at the 50d only three, maybe four, times in the past year. It has failed to find S there much more often than that. And each case in which it seemed to find S, that S was coincident with previous price S.
Lets say you are learning about making money. You see a post such as this. What to do? Well what is the most important thing for you is to move along always seeking higher ground. This is an admonition to: "not get stuck at any time and especially in a mess like this" "Do not get to a place where this set of beliefs is your picture of what it is all about." The immediately above two quoted comments have little value compared to what a person has to do to get to a powerful, successful foundation for making decisions. I will post soon the questions a person has to consider to get out of this mess. By doing so, I believe, anyone then has a chance to get to higher ground. You also get to see how anyone who is not stuck can be at inquiry for learning. It is not ever important to have a viewpoint just to "be right" or "correct". What is important, however, it to be open to consider growth from a sound foundation that is built iteratively over time. If you strive to be better and more you do get to a place where you can learn about more and more things as you assert yourself to broaden and deepen your understandings. "Readiness" is abig deal in growing into expertese. at the beginning of the path most stuff you "see" cannot come into focus for you because of where you are. Later, it will come into focus as it becomes surrounded and supported by collateral facets. This post, above, that I am responding to is a mess. As a reader, you need to be able to not infuse your basis of operation with wrong stuff and, secondly, you need to be able to build past this mess by adding to your belief foundation correctly. This will be a good experience in "knowing how to know". You must always know how to know as you grow.
MetaStock code, 'Fractal Retracements': http://trader.online.pl/MSZ/e-w-Fractal_Retracements.html " Statistical retracements levels based on the decimalsystem (0,1,5,10,20,30.........) including decimaly divided fractions (1/4,1/3,1/2,2/3,3/4.......). In MetaStock, just provide the High (and Low) for the last or previous made trend or rally. Calculation is made from TOP..to..BOTTOM (down). Switch these words around within the formulas, to get the Bottom-Up approach and for future targets levels, replace the multiplier's "left of the comma"-values given,eg the "*0." by a "*1." and this will then give the +100 retracements. " Plus many other 'SR' Indicators at trader.online.
Callling something "support" or "resistance" doesn't make it so. If it doesn't provide support or resistance, then it isn't, regardless of whether some website provides an enabling list or not. If you don't understand the nature of support and resistance, they aren't going to do you any good.
This thread is a perfect example of why the Market works. So many opinions . . . so many styles . . . and it all makes the price go up and down.
Support and resistance at extremes matter. When a stock makes an all time high for first time there is no resistance hence they tend to accelerate in trend. Similarly when a stock makes an all time low for first time it accelerates to downside. It is very objective way of defining support and resistance and with a good money management can show wonderful results.