\ What do you think about it?[/QUOTE] might have more to do with the tools used than the conclusion based on inadequate methods
Let me just clarify some points: If you look at charts and trade discretionarily you will always look for patterns and explanations for price action and therefore you will also see support and resistance in the market. That is neither good nor bad. The important question here is: Are your support and resistance zones working better than randomly drawn lines? In my case I trade foremost the price action as it is shown in the DOM and on 1 minute bar charts and below. I also see levels in the bar charts, the DOM action and the development of the intraday volume profile, but I would not go long or short before a zone just because it is a zone I have seen. The reason for entering a trade is always price action in a higher time-frame context. And my experience is that volatility is an important part of this context and I have to be more aware of the volatility regime than whatever S/R zones I might see. I try to keep it very simple and I don't like my trading be distracted by lines which are as good as randomly drawn.