NYSE:WUBA   58.COM INC ADR EACH REPR 2 COM USD0.00001
Trading the breakout with build up

1. Downtrend interrupted with a first series of HH/LL + Trend line broken + Price closing above 50ma
2. Trend broken with a sharp rally in massive volume increased
3. Consolidation for several days leaning against resistance - the build up. Price action wise, the after hitting resistance, take profit selling prssure + short traders should have stepped in. Instead, the buyers are still buying at near resistance levels
4. Volume decreasing
5. More often than not a breakout results out of this setup

Trade:
1. Buy after once price closes above resistance area // Buy once price breaks out and then retraces to previous resitance // buy in lower time frame at value zone (support) - depending on yr risk tolerance
2. Capture the swing because the odds are this trend will lead to an accumulation phase - take profit at the next selling pressure zone (see next resistance level drawn)
3. Sl 1ATR below current ranging zone

Cheers
Ruben
3.

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