I see it happens to me. For example I place a buy trade, and then price reaches resistance level. Like now 1.1396 on eur usd, but TP is not reached yet, it is far away.
Often hanppens that after reaching resistance level, price drops. So maybe I shoudld close trades and then if drops, buy again. Or if breaks level, then wait till drop after break and then buy?
Or better to wait and hope that price breaks the level?
Or better maybe not close, but set trailing stop like 10 pips?
Logic would be - when we are at resistance level, it is less likely to get higher, than drop. Same as we do not buy near resistance, we buy near support.
Often hanppens that after reaching resistance level, price drops. So maybe I shoudld close trades and then if drops, buy again. Or if breaks level, then wait till drop after break and then buy?
Or better to wait and hope that price breaks the level?
Or better maybe not close, but set trailing stop like 10 pips?
Logic would be - when we are at resistance level, it is less likely to get higher, than drop. Same as we do not buy near resistance, we buy near support.