TD Line
Diupdate
Hi,I have an example of a TD Line that might interest some people.I drew a TD Supply Line with 2 Level-2 Supply Points,from right to left.We are in a BTCUSDT(Bitcoin) 4Hour Chart on Trading View.I measured the distance between the lowest low( between the 2 TD Supply Points) and the intersection with the TD Supply Line.I added it to the breakout point and I had my Take Profit.BUT.The TD Supply Line acted as resistance at the first try to breakout,then before the breakout,the breakout candle did not met any of the 3 requirements for a real breakout.The candle after the breakout candle, closed below the TD Supply Line.The next candle broke out again and price moved to the TD Setup Trend(TDST) resistance,with a 9 from a TD Sell Setup nearly reaching the TDST resistance.In this case,the probability that we go down is very high and we did.To the TD Supply Line.which now acted as support.And we had an unfinished TD Buy Setup at the support,with an 8 and we did have a rally(From $38000 to $48000).And the measured target was touched PERFECTLY!(The Target is the All Time High of Bitcoin at the moment).I have tried to be very precise as possible.I know that with all the descriptions and the names,one can get confused.But have a look on the chart.I wanted to know what do you think of this.Thank you.
Catatan
The descriptiion was for another Forum,where people know a bit about Tom Demark's different methods,TD Sequential,TD D-Wave,TD Line etc.I just copied and paste it here.Catatan
It is of course my Analysis.Catatan
practicaltechnicalanalysis.blogspot.com/2013/01/tom-demark-sequential.html?showComment=1612909770435For those who are interested in TD methods,please visit the blog.He made a summary of TD Sequential,TD Combo,TD Aggressive,Recycle.
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