There is little movement for gold. Disappointingly, it did not continue to fall further but remained at a high of 2600+. I closed one of the gold trades at just a very minor profit, but mainly to cut down on the risks just by a little bit in view of the stagnant prices. Big monies drastically reduced their gold shorts as shown in the big monies portfolio below.
DOT on the other hand, showed more promise as the alt coins entered a bull run. DOT still lags behind relative to many other alt coins, but I believe it has a bigger potential than the rest. Currently I am about 3750 USD in profit for my DOT portfolio, but will continue to hold them. There are times when I am tempted to swing trade, but decided against it as I know the limits of my ability.
The USDJPY trade was sort of a failure, and I am looking to close it at breakeven. Prolly will just go back to my familiar GBP/USD when the time is ripe.
Welfare pack for this week:
Download this week’s CFTC Commitment of Traders (big monies) analysis here.
Read more on what is the CFTC Commitment of Traders report.
Do note that the financial markets are volatile and unpredictable. The above report is only another set of tools to help with our analysis, and by no means is a 100% indicator as to what will follow. It should be used together with other necessary research which a trader or investor should do.
Thanks for maintaining the blog. how high do you think DOT can go? Back to ATH? What about KSM and GLMR that runs behind DOT?
I am unable to predict how high DOT will go. But there are a few factors which could help in decision making. We can first look at market cap of DOT compared to the last bull run. Once it is near that point, we can consider slowly selling out. Secondly, Trump is now heavily in favour of crypto, and the crypto market just started. We can consider holding on to DOT until just before Trump took over, sell half of the holdings and set a trailing stop loss for the other half.