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TD line and projectionHere you can see how to use Tom Demark trendline (that connnects peaks / thorough of more or less equal height / value) and projections. Best of breakout occur with gaps. Prebreakout candle has to close close to the trendline and make a minor pullback before the break occurs. If breakout candle has long rejection shadow - it will not work. Projection are drawn from the lowest closing price to the TD line and then projected from breakout point. You can also see how to use missed pivots that mark new trends (buy upon pullback to the next pivot) - after Rob Booker.
UEducation
by ICFX
2
Study of Tom DeMark D-Waves on actual BTC USD price actionI love the fact Tom DeMark gives strict and precise rules on how to determine his indicators and patterns. I have applied his rules for TD D-Waves (his own variation of Elliot Waves) to the actual BTC USD price action. To origin D-Wave 1 you need to have a 21 low bars close (a close less than all twenty prior closes), then the D-Wave is confirmed when you have a 13 high bars close (a close that is higher then all twelve prior closes). The fade and completion of D-Wave 1 will come when you have a 8 low bars close (a close less than all seven prior closes) and this means also that D-Wave 2 is in progress. D-Wave 2 will extend until when the market records a 21 high bars close (a close that is higher then all twenty prior closes), that will confirm too that D-Wave 3 is in progress. Applying those rules to actual chart, we see D-Wave 1 is complete and D-Wave 2 is in progress. Tom DeMark gives this price projection for D-Wave 2: its pullback should ideally be 61.8 percent of the distance traveled between the low close of D-Wave 1 and the high close of D-Wave 2. The theory is giving us a target price around 5.8k before we have the raise by D-Wave 3. Bibliography: "DeMark Indicators" by Jason Perl
BITSTAMP:BTCUSDShort
by UnknownUnicorn4800276
9