Support & Resistance levels , and moving averages are just meaningless lines on the chart.

[speedo]

Will do, sir.

 

[murray t turtle]

Yeah and it could be institutions were watching the level

%%
MAYBE.
Also , some could be front running OCT/ bear killer nickname.
Last, dont know if its least [LOL] 177 dma got some buyers\
BlombergNews , end of day news, noted Fed May do Less if gov shuts down.
Interesting that's the way they Fed figures it. Did not seem to help DIS or TGT, below 200dma , believe it or not OCT SPY or QQQ related, 1974 went up about 16%, Nixon impeachment announced in AUG,1974.
WEAk SPY close , let see how OCT is, especially QQQ....

 

[themickey]

Thanks for showing me, that I should at least consider using some EMAs. I always believed EMAs to be a noob myth that do seldomly work. Thank you.

Please think deeper!
There is a BETTER WAY!
Much better and more logical way, you guys aren't thinking outside the square, you are following the road most travelled.

 

[SimpleMeLike]

Please think deeper!
There is a BETTER WAY!
Much better and more logical way, you guys aren't thinking outside the square, you are following the road most travelled.

Hello themickey,

A much better way.

 

[Slope Trader]

Let's put it another way, there are far superior methods to moving averages.
MA's really are very clumsy tools, take a 200MA for example, it basically is roughly the price 100 days ago, it's not accurately 100 days ago price, and what is 100 days got to do with the price of fish. 100 trading days ago is approx 20 weeks or 5 months, it's quite meaningless.
It doesn't even line up with calendar events such as monthly, quarterly, biannually.
Yeah ok, 'everyone' uses 200MA, but speaking from years of experience, it's stupid because there are better ways.

Hey, shouldn't you be asleep? If I'm doing the math right I think you posted this at around 3:30 am (!?)

Agree about the 200 MA... I know a lot of stock traders swear by it, but it's really just too darn slow to respond to changes in the market IMHO. I'm primarily a swing trader, though, and so admittedly I'm biased toward shorter-term trends and trades that don't usually last more than 20 price bars.

 

[Slope Trader]

... When my 20ema is flat, I am flat...

Same.

So much of trading is about trying to improve the math and move probabilities further in one's favor and this helps.

 

[themickey]

Hey, shouldn't you be asleep? If I'm doing the math right I think you posted this at around 3:30 am (!?)

Yup, I'm awake at any hour of day or night, both wife and I have irregular sleeping hours, gets worse when mkt is running hot.

 

[themickey]

Hey, shouldn't you be asleep? If I'm doing the math right I think you posted this at around 3:30 am (!?)

Agree about the 200 MA... I know a lot of stock traders swear by it, but it's really just too darn slow to respond to changes in the market IMHO. I'm primarily a swing trader, though, and so admittedly I'm biased toward shorter-term trends and trades that don't usually last more than 20 price bars.

Even 5 or 10 day MA is too laggy.
MA 's are averages, why average a price/time, there is zero logic to the theory.

 

[themickey]

Some say averages smooth the price.
Why?
I can perhaps understand smoothing 2 or 3 bars, but beyond that....nup, silly idea.

 

[speedo]

Mickey, nobody is forcing you to use something you don't know how to use