#TradingTools101 1 Many beginners in trading often overlook the importance of technical analysis tools like RSI, MACD, Bollinger Bands, or Fibonacci Retracement. However, these tools not only help identify entry/exit points but also enhance the ability to manage emotions during significant market fluctuations.

For example, when the RSI surpasses the threshold of 70, it may signal that the market is overbought – at this point, traders might consider taking profits. Conversely, when the MACD crosses above the signal line, it is often a sign that an uptrend is forming. The important thing is: do not use a single tool in isolation; combine at least 2-3 tools for a more comprehensive view.

What tools are you using? Share to learn together!