I am learning to trade in trending secondary markets. I am usually able to find support price but I can't find resistance price using the previous data. I typically use S&R in previous data to predict current S&R but it doesn't really work for short-term trades.
If the chart is trending, where do I take profit? If if I do it too sooner, I might only earn half of what I would have got. If I do it too late, I might lose all the profit I could have gained. I just can't decide. I can't be in front of the screen all day long either to exit trade manually. Even if I am in front of screen, I sometime make mistakes because of FUD.
Right now, I use trailing SL. But I am looking for smarter strategies to decide targets in advance.