LOL, An abbreviation of Laugh out Lound is a very common internet slang.Historically it was used on Usenet and now it is widely used on electronic communication like Email and SMS.LOL secured its place on Oxford English Dictionary in March 2011.
Here LOL means Layer Over Layer.I use this to denote two or more important Support or Resistance levels positioned very close.A lot of traders will get trapped in these areas. Usually the price will break the first level and the break of second level will fail.
Trapped breakout traders of these levels will panic and start to exit initiating a move in the opposite direction.Then momentum traders join them and fuel the move further.30 to 50 point moves are very common from LOL areas.
Watch "LOL" and laugh all the way to the bank
Wish you all "LOL"(Lots Of Luck) with "LOL"(Lots Of Love).