If you are a medium-term trader and you are in profit, it's possible to fix the whole profit and wait for a correction for opening a new buy position. The price is at the and we don't know will the market break it or bounce from this level? So, it's time to think about what to do with opened positions.
For those who skipped this upward movement, it's better to wait for a new correction and buy based on reversal signals from 17.00, 14.00, 10.00 support levels or use SMA50, SMA100, and SMA200.
Buying now, when we have to use the current levels, it's not a smart idea. The market is not far from the ATH at the zone between 22.00-24.00 levels. It is rather strong resistance and it can stop the upward movement. The price can bounce from 20.00 or 24.00 resistance levels and move downward. It won't give you an opportunity to make a profit but it will give you a drawdown. That's why we have to wait for a correction movement in the uptrend with further reversals from the support lines or levels. It will give us a new good buy opportunity.
P.S. If you want to become a professional trader and succeed in the financial markets, you should read these 3 articles:
They will help you to move in the right direction and protect your capital.
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