Can XNGUSD short squeeze?

21 mag 2023

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.

24 mag 2023

Trade attivo

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

24 mag 2023

Nota

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.