Currency AUDCAD: How to use multiple alerts together to confirm an opportunity. Feb and March

Currency AUDCAD: How to use multiple alerts together to confirm an opportunity. (Feb and March)

I have for the last year and half written articles on how to use the heat map email alerts. Showing the power of high probability strategies lining up to kick off a trend. Don’t forget , I have also shown how these heat map email alerts can also reverse. I feel the heat map email alerts are great for beginners and experienced traders. This should be one of , if not your main go to alert for finding great trades. Now I want to take it a step further and increase the probabilities of these heat map email alerts. We are going to take a look at a new alert in conjunction with the heat map email alert.

Recently Manesh has updated the suggested profile section and added an alert that I think compliments nicely with the heat map email alerts. Under the real time scanner tab, if you select the profile tab to the far right, you will see a suggested profile sections. Here you will find the “Bullish Trend All Timeframe Scan” and “Bearish Trend All Timeframe Scan. This alert is for monthly, weekly daily and 240. Alerting you to the fact that the higher time frames are lining up in the same direction but also giving you strength as well. If you get an alert, from then the next step would to be to look for that instrument to show up under the heat map email alerts that covers the 10m to the weekly with high probability strategies in the same direction of the first alert. This gives you an opportunity to find a low risk with high reward trade. Combining these two alerts only increase your chance to find an even higher probability set up. Lets take a look at a few examples.

 

First, lets take a look at the “Bullish/Bearish Trend All Timeframe Scan” alert. The Month, Weekly, Daily and 240 are all  the same. You can see the high lighted areas.

Alert

 

Below are examples of the chart on each time frame so you can see what each box is looking for.

(The vertical lines in the chart are the dates in which the alerts we will be discussed)

Chart (240)

Chart 4hr

 

Chart (Daily)

Chart D

Chart (Weekly)

 

Chart W

 

Chart (Monthly)

Chart M

Now the above chart is for AUDCAD because this is the topic and the examples I am using. Next lets take a look at the opportunities that came up for AUDCAD. The next picture is an example of the alert that you will receive once you set up the suggested profile under your “My Profile” section. Once you set that up, you can now start receiving alerts to your email.

My first email for AUDCAD showed up on 2.15. Once this alert presented itself, I started watching for heat map email alerts for AUDCAD.  Again this is letting me know that my Monthly, Weekly, Daily and 240 are all Strong Bullish.

AUDCAD 2.15

 

Just a day after this alert came out, I started getting 6 and 5 time heat map email alerts.

5x 2.16

6x 2.16

 

From there I can now start looking for set ups.

Below is an example of a 30m cloud break out and a 120m Kijen-sen pullback.

Your choice of time frame just depends on your risk management plan.

Chart 30m 2.16

Chart 4hr 2.16

 

Again I’m still getting Bullish alerts for AUDCAD, so I keep an eye on the heat map email alert for AUDCAD. Whats wrong with going to the well for more?! Just keep hitting it till the market offers no more!

AUDCAD 2.20

6 and 5 time heat map email alerts start showing up again not to long after the bullish alert comes out.

5x 2.21

6x 2.21

Below is a 30m pull back. This did get stopped out but you can see the trend still remained bullish. Even more important to keep your risk low, just in case. Don’t give up.

Chart 2.30m 21.2

Because opportunities will keep coming.

Another alert for AUDCAD on 2.27

AUDCAD 2.27

The next day a 5 time email alert comes out.

5x 2.28

Chart below is a 1hr break out.

Chart 1hr 2.27

Now we are into March and AUDCAD is still strong bullish on the Monthly, Weekly, Daily and 240.

Next alert came out on 3.14

3.14

And the next day a 5 time email alert came out.

 

5x 3.15

 

Here is a 2hr chart with a break out.

Chart 2hr 3.15.2

 

Here the 2hr is choppy and my rules would have actually kept me out of this trade. Keep in mind though, these alerts are just signals to get you to look at the chart and keep an eye on them. See if there is set ups on the lower time frame. You can see that even as it struggles it still remains bullish. Watch for the signs.

 

3.20 another bullish alert for AUDCAD.

3.20

Now take a look at this. I have heat map email alert for AUDCAD but it’s bearish. Is it now time for a major pull back?

Could the choppy 2hr chart above have been a sign of a possible pull back to come?

 

5x 3.24

 

Again not to much later from the last alert, I’m still getting strong bullish alerts on the higher time frames but you can see again the next heat map email alert is bearish.

3.29

5x 3.31

 

Here is a chart showing the bearish set up on the 2hr.

Chart 2hr 3.31

 

What do we do from here? A few things can happen and I will have to wait and see what the market presents and not what I want it or think it will do. I will keep an eye out on the higher time frames and see if they remain strong bullish. If so then I will watch the email alerts. Even if I get bearish alerts on the heat map alert like the last two, I won’t stop looking for bullish trades. Remember, heat map alerts are also high probability to reverse. I will keep an eye out and watch what the alerts and chart are telling me.

 

We can see by using multiple alerts to help understand when an instrument will trend, there are many opportunities to make some great trades. To keep hitting a trend over and over with low risk and high reward. All you need is one great trade and I have shown you how to find a few great trades with one instrument.

These are great examples of alerts that we offer on our website, so imagine if you really understand the basics here. You can see how you can customize your own alerts to create great high probability set ups. The “Bullish/Bearish All Timeframe Trends” has quickly become one of my favorite alerts added to my arsenal. To the point, I don’t even look at heat map email alerts until I see something from this new alert. Set yourself up for success and make your life easy. Let the website do what it was designed to do and save you time finding great low risk high reward trades.

 

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

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About the Author Michael Colquitt