Initial Take Profit Values

This is optional. You don't always need an Initial Take Profit Value.

There are two ways to exit the trade - either your stop is taken out, or the take profit is hit.

Your Initial Stop Loss Value will always be, for long trades, below the Entry Value. Obviously.

Sometimes you rely on your Trade Management Rules (next article) to gradually move your stop loss from that loss position, to a break-even position, and eventually to a spot where even if your stop is taken out, you will make a profit.

Or, you can have a Take Profit set. Your trade will be closed at a profit if that level is hit. Or you could do both. Anyway, Take Profits are optional, but only if you have Trade Management Rules which will eventually move your stop to a profitable position.

Initial Take Profit Values are exactly the same as Initial Stop Loss Values, which are essentially the same as Entry Values. High, Low, Close of current bar, the value of a moving average, the lower bollinger line, low of the last X bars, a specific number of pips above (or below) the entry price, etc.