Hi im kind of new, and i keep seeing these long/short exit projections, and i can't seem to find any information about what people use to make these predictions. My biggest challenge is figuring out where to exit on long positions. Thanks!
@conormcqueen, personally I use 15 years of experience of looking at these, combined with academic and trading license training. Read books about statistics, economics, psychology, and finance. Keep an eye on fundamentals, news, and social media trends. Exit on long at around 80% of when it has run its course. It will be different in each situation - based on momentum. In case of this trade - you want to exit no earlier than 220, where as at the moment it has consolidated at 145.
@conormcqueen, reading up on trend analysis / technical analysis. These shapes are driven by real market forces, such as volume, buy / sell order books, and forecast modeling of the possible market moves. There are online tutorials and endless books on Amazon, but that will just give you an understand. Mastery comes with experience of actually doing it, getting it wrong, then doing it again and again.
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