Woolworths, something to think about.
More educational than anything...
Many people would've taken this breakout earlier in the day which ultimately came back down and didn't close above resistance. When swing trading breakouts I like to enter towards the end of the day which gives me a better understanding of how the market is acting and what the volume looks like.
Also as with most JSE shares that are breaking out at the moment we notice they have run a fair bit so far and a lot of these breakouts may be in the over brought areas. I like to trade breakouts that have been building a base under resistance for a few days as indicated on the chart. At the moment if you missed breakouts you can look for retests of the original breakout in the coming days to enter.
Many people would've taken this breakout earlier in the day which ultimately came back down and didn't close above resistance. When swing trading breakouts I like to enter towards the end of the day which gives me a better understanding of how the market is acting and what the volume looks like.
Also as with most JSE shares that are breaking out at the moment we notice they have run a fair bit so far and a lot of these breakouts may be in the over brought areas. I like to trade breakouts that have been building a base under resistance for a few days as indicated on the chart. At the moment if you missed breakouts you can look for retests of the original breakout in the coming days to enter.
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