Wave #1 - Demon (Arms)
This one's quite the bastard. He teleports around you towards your back a lot so you can practically expect a counter anytime he does that. Refrain from back flipping if you lose sight of him since a lot of his attacks can still hit you. To play safe, duck instead. The only move you can't duck from is his fireball attack but there's the sound cue you'll know to side dash instead. Try to get in a guard break if you can; it can be hard but luck may help. Also, do not use any roulettes until the 4th wave.

Wave #2 - Demon (Sword)
This one's right about the same as the previous one. You can duck from majority of its moves so long you stay close to him. He teleports away often so carefully catch up with him, but be careful of its spinning attacks which you'll need to side dash away from. As always, try to break its guard for the counter punches.

Wave #3 - Demon (Spikes)
By now you should have refilled enough TP for one unleash. Use it to kill this one.

Wave #4 - Demon (Trident)
Use the remainder of your unleash on this demon. The moment the unleash ends, perform Crescent Kick. Depending on how strong the techniques you equip are, you may be able to kill it instantly. If not, run back up to it and add in a few more punches to finish it off.