Indicators and Fibonacci mean uses in Share Markets

Technical indicators are the tools created for traders using past price data and /or volume, by using different mathematical functions to predict future price trend and to help traders to take better entry and exit decisions. The indicators should be used as a confirmation tools after your price action analysis and not as a sole decision making tools. As indicators are lagging indicators and they do not work in all market conditions. Use of too many indicators leads to paralysis of the analysis, as they give conflicting signals.
Moving averages and RSI are one of the most popular indicators. used by the traders.Moving averages work well in trending markets and RSI work well in non trending markets.
Fibonacci golden mean of 0.618 is used along with 0.382 and 0.5 in trading as they form the possible support and resistance zone. If one finds the appropriate candlestick pattern at these levels along with confluence of moving average you can initiate trading decision.
Ratio of 1.382 and 1.618 and so on, are used in an uptrend or down trend in predicting possible future target levels, as they are likely to act as a resistance in an uptrend and support in the down trend.