Joseph Stowell,
"Tips for Traders and Investors: Trading U.S. Bonds and Stocks", 1995, Money Management Institute, 10314 Aldrich Avenue, PO Box 235 North Rose, New York 14516 (315) 587-9651 S&C Mag, July 1995, Trader Interview, p.70 -
PRICES
RISING
-
Find HIGHEST HIGH for the current UPSWING
 Label it BAR 1 Look to the LEFT, find the MOST RECENT LOW that is LOWER than the LOW of BAR,Label it BAR 2
-
Look LEFT again, FIND the MOST RECENT LOW that is LOWER than the LOW of BAR 2, Label it BAR 3
The THREE-BAR NET LINE is a HORIZONTAL LINE extending RIGHT from Bar 3 HIGHS
The TREND is UP until PRICE CLOSES BELOW the current THREE=BAR LINE PRICES FALLING Find LOWEST LOW for the current DOWNSWING
 Label it BAR 1 Look to the LEFT, find the MOST RECENT HIGH that is HIGHER than theHIGH of BAR 1 Label it BAR 2 Look LEFT again, FIND the MOST RECENT HIGH that is HIGHER than the HIGH of BAR 2, Label it BAR 3
The THREE-BAR NET LINE is a HORIZONTAL LINE extending RIGHT from Bar 3 HIGHS
The TREND is DOWN until PRICE CLOSES ABOVE the current THREE-BAR LINE NOTE: INSIDE BARS DO NOT COUNT |
miracles,
they are everywhere.............. 
