GOLD (XAUUSD) 07/06/2021 Moving In Retracement Phase

Here is my continuation analysis of GOLD (XAUUSD). Last week we saw Gold raised from our buy area to 1916 and then falling hard breaking below 1880 and reached the 1855 area which indicates that GOLD (XAUUSD) right now in the retracement phase from subwaves 3 to subwaves 4. For next week, I still considering GOLD (XAUUSD) move in retracement channel before going to the upside again. I am projecting that this retracement phase will end when GOLD (XAUUSD) reaches 1834 - 1845 areas. This analysis will be invalid once GOLD (XAUUSD) breaks below the 1820 area.

Disclaimer: This is my personal trading setup !! Please use this only for comparison with your own analysis.

Share your thoughts or ideas in the comment section below and give support by giving like thumbs and sharing with your friends.

Cheers.