Quote from: Wakhid Mukti on July 10, 2024, 03:40:44 AM

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.

We must remember that indicators belong to different families, like oscillators, trend indicators or volume indicators, so while it is easy to get overwhelmed by the hundreds of indicators that are out there, selecting one out of each family is often more than enough to create a coherent trading strategy for those that may like to try their luck trying to earn money this way on the markets.

So all what is left for an aspiring trader is to try several of the most commonly used indicators, and see with which one of them they feel more comfortable using and then integrate the indicator into their strategy.