Placing too much emphasis on indicators

I purchased a book this weekend titled "Forex Trading for Maximum Profit" by Raghee Horner.  This is the best book I have read to date for a couple of reasons.  The author gives practical and tactical methods that can be applied to everyday trading.  This book actually shares a way to begin trading or at the least analyzing the market. 

I bought the book at Barnes and Noble for about 80 bucks but I’ll do what I usually do and order it from Amazon used, wait for it to be delivered and then return the one I bought at Barnes and Noble.  It can be found used on Amazon.com for 29 bucks.

The most important things I’ve realized by reading this book is that I’ve been placing way too much emphasis on technical indicators (MACD, Stochastic, Momentum, RSI, etc.)  This book places a lot of emphasis on using trend lines, fibonacci, and 3 34 day EMA lines (high, low, and close) which the author calls "The Wave." I’ve read posts and comments by a visitor named Blackday and I can gather that he places similar emphasis on them as well.

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