abwarten
to wait for
To wait until a certain time or event occurs before taking action.
Wir sollten die Ergebnisse abwarten, bevor wir eine Entscheidung treffen.
We should wait for the results before we make a decision.

to wait and see
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to wait for
To wait until a certain time or event occurs before taking action.
Wir sollten die Ergebnisse abwarten, bevor wir eine Entscheidung treffen.
We should wait for the results before we make a decision.

'Abwarten' (to wait for/wait and see) is a separable verb. The prefix 'ab-' separates from the verb in a main clause and goes to the end of the sentence. In subordinate clauses and in the infinitive with 'zu', the verb stays together.
Ich warte das Ergebnis noch ab.
I'm still waiting for the result.
'Abwarten' (to wait for) is often used with an accusative object that describes what one is waiting for. It can also be used with a subordinate clause beginning with 'ob' (whether), 'was' (what), or 'wie' (how).
Wir müssen den Regen abwarten, bevor wir losgehen.
We have to wait for the rain to stop before we set off.
The expression 'abwarten und Tee trinken' (wait and drink tea) is a well-known piece of advice used to express that one should remain patient and watch how things develop. It is often used to calm someone down.
Wir können jetzt nichts tun. Lass uns einfach abwarten und Tee trinken.
We can't do anything now. Let's just wait and see.
to act / trade
'handeln' and 'abwarten' are opposites here. 'handeln' means that you become active and do something, often because a situation requires a response. 'abwarten' means that you are not doing anything yet and first want to see what happens. Both words fit moments when you have to make a decision. The difference is: with 'handeln', you start taking action; with 'abwarten', you deliberately postpone the action until later.

Julian wartet ab, weil er morgen erst die Antwort vom Amt bekommt.
Julian is waiting, because he will only get the answer from the office tomorrow.
Als der Keller voll Wasser lief, mussten die Nachbarn sofort handeln.
When the basement started filling with water, the neighbors had to act immediately.