How do you determine exit points on new breakouts with no prior resistance or price points?

Troy Bombardia said:
Fib extensions don't work as well as fib retracements. It's better to use daily or weekly RSI (I like weekly RSI).
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Fib extensions for profit targets in ES is my own personal holy grail. Been working as long as markets have been around. Just gotta backtest to see what works best for you and your strategy.
 
Once I get to break even stops plus fees covered in stocks/ETFs, it stays there, in commodities am contrarian. If it is a medium term trade, I use percentages to take off half and let the runners go using charting to offer when highs are in. Non of my testing in how I trade showing trailing stops work for me long range, scalping totally different along with day trading. Often do reversals of signals with intra day trading and hourly. Cluster fibs usually work nicely.
 
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