Not all indicators can be used in the market and are useful for determining market direction, because the market operates with various factors such as fundamentals or the influence of the ups and downs of the economic level in each country and a person's behavior in investing/buying and selling on the spot market. However, we use what the OP shared very often and has proven to be effective in monitoring market movements. Fibonacci may be what I often use and tends to be accurate, but it doesn't rule out the possibility of inaccuracies.