On Wednesday LOCK found resistance at the upper channel line and today it crashed through its lower channel line thereby breaking the trend.
When looking at levels of resistance & support, those levels should turn into levels of support & resistance once they are surpassed. When LOCK broke out of the classic pivot at 17.99, it should have turned into a level of support, as should 17.60 which was the advanced pivot.
Support did not show at neither the classic nor the advanced pivot. If entries were taken off of those areas, this was in trouble.
When looking at levels of resistance & support, those levels should turn into levels of support & resistance once they are surpassed. When LOCK broke out of the classic pivot at 17.99, it should have turned into a level of support, as should 17.60 which was the advanced pivot.
Support did not show at neither the classic nor the advanced pivot. If entries were taken off of those areas, this was in trouble.