Dislikedhey...can someone help me with something. I'm new to Demark and have been trying to set up his trendlines properly but I come into one big problem...it seems the trendlines changes very frequently. I'll draw a trendline (I only use level 2) and several candles later I get another trendline...when the market is slow I get some TD points that I don't feel are very strong points. Is there a rule that helps eliminate some of the noise? Second, how do you identify a bounce. If a qualifier states that in order to break a demand line the previous candle...Ignored
To your question about bounce I'm not exactly what you mean; but here is a EURUSD daily chart with a probable (?) TD Demand line. If the bar closes today as it is exactly shown then yesterday's low is a TD Point 1 matching up with the previous TD Point and the trendline is valid. As well today's close would be an up close. So if tomorrow were to break below the TD Demand line this short entry would qualify.
BTW if you want to learn Tom DeMark trendlines stick to what he says. There is plenty on the web - do a search. Pick up one of his three books or better yet as DeMark is sometimes hard to understand without reading and re-reading buy a book called DeMark Indicators by Jason Perl as he is a lot more clear and concise.
HTH