Newsletter $Forex / $Currency: Using multiple alerts to find the trend

All you need is one trend to make your day, week, month, or year. Ichimoku is great for trends. Question is how do you find it before it happens. By using a few alerts from the website, we can narrow down to a few to focus on. I will be taking a look at the suggested profiles Bearish trend all timeframe scan and Bullish trend all timeframe scan. I will combined them with the heat map email alerts. Please check the website to look into the details of each of these alerts and what they do if you don’t know already.

Lets take a look at what came out this month on the all bullish and all bearish alert scans. Then take a look for heat map multi time frame alerts that match.

Month, Weekly, Day, 240 Scans

Heat Map Multi Email Alerts

For Bullish, EURAUD, EURCAD, and EURGBP

For Bearish GBPCHF, CADCHF

Lets take a closer look at these five on the charts. (all charts are 240 )

Now we can see which charts a strong and not as strong. You can tell by price in relationship to the kijen sen. On EURGBP and GBPCHF the Kijen sen is holding price and this is what you want on a strong trend since the stop is trailing of the Kijen sen with a buffer (green dots). Now thats not to say the other charts are not strong. These are 4hr charts. More that likely the trend is being contained on the daily. But lets be honest. How many people want to take on the risk on a daily. Not most retail traders. What you want to do from here is narrow things down. We used the scans to do that. Got it down to five. Now we can look and see which one of these five we want to focus on. Use the heat map email alerts to look for the set ups on the lower time frames. The goal is to hit the smaller trends until you can graduate up to higher time frames.

Hopefully this will help you build a routine. Also save you time, as well as help you understand what to spend your time on and what to stay away from. This is only a start. The other half of the work is to find the setups on the lower time frames. You can do this yourself by setting alerts or set up alerts on the website. I use a 1hr custom alert for a break out. When I see that alert show up and it matches one of these 5, best believe I’m on top of it. There are still a few things to consider but at least I’m making it easier.

Also keep in mind that failures can lead to reversals so don’t count out the idea it can go the other way. Know our probabilities because that all it comes down to. Im using alerts to help narrow down to the few that are the highest probability to break out and trend.

 

 

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