Most traders take profits at fixed risk-reward ratios like 1:3 or 1:5, but these are arbitrary points unrelated to actual price structure. Instead, use chart analysis to find where the market will actually react and exit there.
I've never really understood that, to be honest with you. A lot of people like to say I'll take a partial at 1 to 3 or 1 to 5. I always ask myself why? Why are you analyzing the chart at all if you're looking to partial at a random RR point? It's literally just a random point in the chart. Sometimes it'll match up with a high or low, sometimes it won't. My point being is it's completely random all the time. So if I'm analyzing the chart looking to see where price tied to next, I'm going to be targeting these areas. That's the whole point of analyzing the chart in the first place.
