Buy at Support - Sell at Resistance

Mr. Nasdaq, when using automated trading via strategy desk by TD ameritrade, what are the best formulas to use when setting automatic alerts to assist in recognizing support and resistance points?
 
Hi timdfleming,

The best formulas to use in any automatic trading system will include the most widely used aspects of Support and Resistance.

To get a list of the most widely used aspects of Support & Resistance along with a brief descirption of how and why they are used, follow steps 1 through 3:

1) click on the Support & Resistance Report link (below).

2) enter the symbol "SPY" in the search box in the upper left of the web page.

3) hit the "Enter" key on your keyboard.

Note: Basing your trades on areas of "Gathering Support" and "Gathering Resistance" increases the odds of a successful trade.

Support & Resistance Report for Thursday, November 20th, 2008 ...

Support & Resistance Report
 
Mr Nasdaq, since there is 3 Gathering Resistance, which one will best confirm buy/sell point for today's whipsaw trend ?
 
meki99,

As a general rule, long-term aspects of Resistance carry more weight than shorter-term aspects.

Nevertheless, as the price of a Stock rises, it must deal with areas of Resistance in the order that they appear in the Stock's Support & Resistance Table.
 
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