coyotte

will try and up load chart.(posted on another forum over the weekend) it is from last Friday 29/6 and since then the Triangle has continued to form . The Gap between the low & high under McLaren is quite Bullish -- but the bit about McLaren I question is about 3 lower highs being very bearish as in EW theory this can this not simply be a 5 wave correction ?

PNA -- Pan Australian Resources -- on the Aussie Exchange. Sorry usually only hang around the Australian Sites Cheers

McLaren's DVD is mainly about trading the counter trends within the predominate trend. You can keep it simple with the trend patterns or more advanced with the amount of days within the counter trends . A classic simple example is the PNA chart 1: if the last HIGH is not taken out with any up swing -- then that swing will be the 2nd lower high -- a 3rd lower high would signal a SHORT trade is probably forming. 2: the "Low before the High forming the resistance guideline " I find can be useful for identifying a Ascending Triangle early . 3: the recent Low forming a gap with the mentioned high is very bullish Bill goes on about the 3 higher low swings after a major decline often leading to a recovery . He covers EW / Gann but not in the conventional manner. Cheers

PNA as a classic McLaren Long setup (as I understand it) 1: the GAP from the previouse High to current Low is the Entry signal 2: the LAST High MUST be taken out with this swing (otherwise 2 lower highs) 3: resistance expected @ the Low before the Last High (could form a Asc Tri ) 4: Volume on Sell bars has been lower than on the Buy Bars. Any constructive criticism welcome .

Have just finished reviewing again Bill McLaren's dvd " Foundation for Successful Trading " . When one looks at the basics of what Bill is explaining it really is a quite simple but extremely powerful and versatile method with PRICE action stripped down to it's bare roots . Wondering if any other posters apply or have applied Bill's methods and what their thoughts on it are ? Cheers

Browsed this thread , but haven't come across this query. Have read "Master the Markets" but is TradeGuider worth the loot ?. seems to me just eyeballing will do the same job