OMG! Look at this guy! His first post and he understands sonar only attack?? Geez!! I can't tell you how I'm struggling with the mechanics of manual targeting! Can we do some sort of mind meld to make me smarter??
As far as your question about finding targets. My suggestion is look at the map. If you know anything about that part of the war, where the major battles were fought, the main Japanese bases etc, you can pretty much see where the best shipping lanes are. Also the contact updates you recieve via radio messages will help you to see where the shipping routes are.
About sonar pings being detected, I did read in another thread that's not incorporated into the game. Supposedly you can ping away and the Jap ASW won't hear it.
Lastly, welcome to the forum!! There is a wealth of information here, and the veteran members are more than happy to help!!