PA24 HAS NMAC WITH C172 IN TRAFFIC PATTERN.

Narrative

WHILE ON THE XWIND LEG OF RWY 34L; THE PAINE TWR CTLR ADVISED ME OF INBOUND TFC JUST ENTERING ON THE DOWNWIND OF RWY 34L. HOWEVER; BY THAT TIME I WAS ALREADY WELL INTO THE XWIND LEG AND ABOUT TO TURN DOWNWIND WHEN THE ADVISORY WAS ISSUED. I IMMEDIATELY REDUCED MY RATE OF CLB BY LOWERING THE NOSE OF MY ACFT TO GET A BETTER LOOK AT THE CONFLICTING TFC. THE POS OF THE CONFLICTING ACFT WAS ALREADY PAST MY 12 O'CLOCK POS MOVING TOWARDS AN 11 O'CLOCK POS. I NOTIFIED THE CTLR THAT I WAS TAKING IMMEDIATE EVASIVE MANEUVERS BY EXECUTING A R 90 DEG TURN AWAY FROM THE TFC. AFTER THE TFC BECAME NO FACTOR; I EXECUTED A 180 DEG L TURN BACK ONTO THE DOWNWIND FOLLOWING THE TFC. A MAJOR CONTRIBUTING FACTOR TO THIS NEAR-MISS WAS THAT THE INBOUND TFC'S INITIAL CONTACT WITH THE TWR MAY HAVE OCCURRED DURING MY TKOF ROLL. AS A RESULT; I DID NOT FOCUS ON THE CALL AS I WAS OCCUPIED WITH SCANNING THE ENG INSTRUMENTATION READINGS AND ALIGNING THE ACFT WITH THE RWY CTRLINE DURING TKOF. IN HINDSIGHT; I SHOULD HAVE: 1) PAID MORE ATTN TO THE INBOUND TFC'S INITIAL RADIO CALL TO MENTALLY ESTABLISH HIS RELATIVE POS TO MINE. 2) NOT TURN XWIND UNTIL I HAD ESTABLISHED VISUAL CONTACT WITH THE INBOUND TFC.