While surfing through various educational material on the internet, I noticed that many urges to avoid picking tops and bottoms as it seems to them to be a very risky thing to do. However, I often do quite the opposite and many experienced traders that I know of do the same. So what could possibly be wrong with the concept of “Buy low and sell high“? Probably the biggest problem is that you may not know how high or how low it still can go and because of that it is difficult to determine possible risk limitations.But here is the thing; those investors/participants, who entered at the very beginning of the move or at the break of the last support/resistance must take profits somewhere. These technical levels, where they are planning to take their profits, will be a turning point. If not for a reversal then at least for a relief movement (rally/retracement). That should be a significant enough move for a chance at a decent trade.So how does one determine where they plan to take their profits?First of all don’t forget that neither the top/bottom picker nor the one that is already in the trade is ever absolutely sure where the next possible turn is and as one of them is eager to enter, …
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