For the Technical Trader there are 3 essential elements that should be used. One from each category is sufficient, otherwise it can fall into overanalysis quite easily:

1. An Oscilator Indicator: Eg RSI, Stochastic, ADX etc.
2. A Price Pattern: Eg candlestick patterns, bar patterns etc.
3. A Level Indicator: Eg support/resistance or Fibonacci levels.

Apart from the above the other 2 important factors are the following:

1. Money Management: A Trader needs to have a clear and defined plan on how he will risk his money in doing trades. 2% risk strategy is industry standard.
2. Psychology: A Trader needs to stay in top psychological condition, therefore some form of physical exercise is quite essential to bring success in trading.