[coyotte]

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

[coyotte]

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 .

[brownsfan019]

coyote - I'm not familiar with this service, but if you want to get some discussion going, giving a reader's digest version may help. Just b/c someone has not read the book or watched the DVD does not mean they cannot discuss the ideas with you.

Just an idea.

[BlowFish]

Had a quick look at hs web site. Looks interesting and prety much 'in alignment' with my own aproach. I'd quite like to hear a bit more about it Cyotte if you have a moment.

Actualy there are a couple of things thave caught my interest recently its hard to be selective sometime.

[BlowFish]

Actually it thinking a bt further it looks to share much with Wlaters flip trade.

[coyotte]

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

[Tasuki]

coyotte, I can't find the symbol PNA which you used in your example. Has it been renamed?

[coyotte]

PNA -- Pan Australian Resources -- on the Aussie Exchange.

Sorry usually only hang around the Australian Sites

Cheers