For longer term swing trades, you can base targets off the support and resistance of the charts. I'm not sure how well that works for day trading. The classes I have taken were for longer term swing trading. I haven't fully adapted what I learned to day trading.
Just prior to Beer's entry, looks like two moving average crossed, and or slow stochastics crossed? Also looks like the Williams% touched -80 then bounced from it.
Am I getting closer? Grasshopper is listening carefully...