Chart reset: drop down Gold analysis - Weekly

So I have hit a real brick wall. I have not hit it once, I have hit it over and over again and I need to reset and align myself to my strategy, edge and focus.

What is the idea? Well I need to do some more drop down analysis to ensure I am focused and know where the market is going and which direction I am because without it, I am just gambling and I can't do that anymore.

The strategy? Price action trading using confluence between the time frames and long term bias to set direction. Price structure is also considered as we need to know the strength of each push.

RULES FOR ENGAGEMENT:
- WEEKLY AND DAILY SET BIAS - ABOVE 200 BUYS (GREEN) BELOW 200 SELLS (RED)
- 4HR MUST AGREE WITH HIGHER TIMEFRAME
- BUY OR SELL WELL MARKET IS OVERSOLD OR OVERBOUGHT, AT SUPPORT/RESISTANCE AND MACD IS CROSSING
- LOOK FOR DIVERGENCE ON RSI

Further testing and changes to take place to ensure the changing of trend can be taken into consideration with both swing and intraday trades.

(Examples to follow)

ANALYSIS OF THE WEEKLY:

- Price broke to the upside back in mid March solidifying the bullish trend. We should have seen this from previous price action when price was in a long term range and opportunities to buy at the bottom were present.
- While price is continuing in this bull run, on the shorter time frames we have plenty of opportunities to enter long and compound (See following posts)
- Price is now consolidating in a range. Action for a range? Buy at the bottom (support) and sell at the top (resistance) - wait for the breakout for further confirmation.

What can we take from this chart?
- Price is bullish and above the 200 MA which give us buying permissions.

Onto the next chart.
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