Plan Trading Gold for February 27Yesterday, the candle closed with a long red body, indicating a significant price pullback from 25. The price range of approximately 12 points suggests market indecision, waiting for a reaction.
Important news today:
Durable Goods Orders m/m at 20:30 (better for the currency if higher). The most recent occurrence was on January 25th, with negative news causing the price to drop to 7 points and then increase by 14 points from the bottom. On December 22nd, positive news led to a drop of 5 points, followed by a rise of 12 points from the bottom.
CB Consumer Confidence at 22:00 (better for the currency). On December 30th, positive news caused a price surge of 12 points before the release, and after the news, it dropped by 19 points, exhibiting a high volatility. On December 20th, negative news for the currency resulted in a 3-point increase in gold prices followed by a decrease of 7 points.
Today is expected to be highly volatile (with potential fluctuations of 20-25 points throughout the day).
Key buy/sell zones:
Sell zone 01: 44
Sell zone 02: 47-49
Buy zone 01: 24-25
Buy zone 02: 16-18
Scalping orders (close orders before news): Sell at 40, sell at 36, buy at 26.
Wishing everyone a fantastic day and big wins!
