Usally, you want to use multiple TA system to estimate and try to find the range that can be confirmed through multiple systems. For example, COIN has a gap between 241-257 that need to be filled, so, if our assumption of uptrend is true, it will need to fill that gap. We take the middle point and it is roughly 250. Then, with Elliot wave, the 3rd wave extension is also roughly 240-250 area. Finally, we should expect COIN to be rejected by the downtrend line first time it reaches there, and assume COIN gradually go up there, it is roughly 250-260 area
If you take all these into consideration, 250 would be a reasonable assumption where we should start taking profit, assuming uptrend is coming. You can then use this as a guide to verify if stock does move as what we expect here, if not, we should exit the position asap because it means our assumption is wrong.
All these only apply to short term trade. For core investment, we need a completely different strategy
