Which technical indicators are the most important?

There are so many technical indicators at our disposal to use and most of them based on one basic principal which is the moving average for example like MACD, Stochastic, Bollinger Bands, etc. There are many more variations and if you put them together it can be very effective signals to indicates the market directions.

However out of all these indicators which is the number one priority you should master first? Most novice will just try anything that works first that's what i was doing for example with the like of stochastic which is quite fast and identical to the market movement others will use MACD to make sure they are certain of the directions. Yet very few will actually study the importance of support and resistance points until they become experience speculators.

Why support and resistance level are very important? 

First of all if you look at the market movement in all time frames - it actually fluctuates very identical on the same support and resistance level. Regardless of any other indicators the bullish and bearish behavior can swing at any moment but rarely too far off within the range although it goes out a little bit at times. Each time frames has it owns support and resistance level and you have to master each of them in order to be successful in forex trading.

Secondly the support and resistance level increase your confidence and you will have less doubts on your positions how you might lose and how much you could win. 

Thirdly to avoid premature exit from the market. Let's say the MACD and Stochastic all bullish and you know the market direction going up in 1 hour time frame. However after getting 10 pips suddenly it reverse to negative and it happens over and over again until you lose faith and exit the market either in losing positions or getting less than 10 pips when you could actually earn 100 or more pips. If you know the market sit at the support level while MACD and Stochastic is heading upwards - you should believe in your instinct to ride the bull until it reaches the ideal resistance level rather than exit prematurely.

Finally is to understand the limit of market fluctuations - it can't neither go up or down forever and there must be a braking point and that is determined by support and resistance level. Most newbies will do this mistakes keep buying even if the market already hit the resistance vice versa. They thought that as long as MACD and stochastic in synced it will just go all the way!! No..that is not the case even if it goes further it might trigger quick reversal into normal price zone. 

So this should be the number one priority to learn in technical analysis and the rest are secondary.