Race Comment Explainer

Original comment with matches highlighted:

held up in t wh, e chase and ridden before last where chased leaders, well, led near finish

Matched phrases & meanings

Phrase	Meaning
led near finish	This indicates a perfectly timed run and a horse with superior late speed
Chased leaders	Running directly behind the horses in front of the field.
ridden before	The jockey started urging the horse aggressively before the second-last obstacle to try and get it back into contention.
Kept on	The horse maintained its speed well to the finish.
Held up	Intentionally raced patiently at the back to save energy.
Headway	The horse was moving up through the field.
Rear	Running near the back of the field.

Summary

This indicates a perfectly timed run and a horse with superior late speed
Running directly behind the horses in front of the field.
The jockey started urging the horse aggressively before the second-last obstacle to try and get it back into contention.
The horse maintained its speed well to the finish.
Intentionally raced patiently at the back to save energy.
The horse was moving up through the field.
Running near the back of the field.