Gold trading strategy - December 30, the last days of 2024As of December 30, 2024, the gold market opened the week with minimal fluctuations, continuing to trade within a sideways price range. The market has been relatively quiet during the final days of the year. This week marks the transition from the old year to the new, and it is anticipated that the market will continue to move within a narrow range with low liquidity. Significant economic reports, such as the ADP Employment Change and Non-Farm Payrolls, are scheduled for next week.
This week, attention should be directed towards the end of the week, with two key reports: Unemployment Claims and ISM Manufacturing PMI. Traders should monitor these releases closely.
Regarding gold's price range today, as previously predicted, the main trend remains a selling bias. Prices may exhibit a sideways decline; therefore, consider selling at resistance levels. The intraday price range is expected to fluctuate between 10 to 13 Price.
Trading Strategy for Today
BUY ZONE: 2602 - 2600
Stop Loss (SL): 2595
Take Profit (TP): 2610 - 2614 - 2620
SELL ZONE: 2648 - 2650
Stop Loss (SL): 2655
Take Profit (TP): 2640 - 2636 - 2630
Please actively monitor the plan and note important price levels for potential gold scalping on the chart. Ensure to set take profit (TP) and stop loss (SL) orders to safeguard your account. Trade cautiously during these final days of the year.
Good luck!
