Can XNGUSD short squeeze?

XNGUSD on the weekly chart showing two years of price action with weekly candles

shows the rise in 2021 into spring 2022 then printing a head and shoulders pattern

and the reversal to deep into the support/demand zone. The volume profile shows

the majority of the trading during this time period to have been between $3.75 and

$ 8.50. It would seem likely that there are a sizeable amount of short sellers holding

positions with unrealized profits of 50% to as much as 300%. This past week had the

best buying volume in six months and provides bulls with optimism


If natural gas can gain some momentum and put in green candles with a decent price range for

a couple of weeks in a row, the combination of new buyers with new interest and short sellers

liquidating and buying to cover their unrealized gains might ignite a bit of a rally for natural

gas. I will keep natural gas on watch. I will keep in mind that a breakout without a

corresponding volume the response could be a fakeout. A stop loss would be $1.95 below the

support zone while the final target would be $4.75 below the POC line. Interval take profits

would be 10% of the forex lots every time the price rises by $0.50 for risk management and

good profit taking while underway.

การซื้อขายยังคงดำเนินอยู่:

XNGUSD rising up; adding to the position; looking for progress as the equity market gets aggravated by debt ceiling chaos.

ความคิดเห็น:

ip this morning allowed some short traders to realize a profit if they were quick. I bought more at the low. The unleveraged position is up over 4% since then. expect more volatility tomorrow then a quiet day to finish the trading week. Profit-taking
may slower price then. In the meanwhile, the more shorting the better as it gives potential energy to buying momentum once it is underway.