A common debate among forums is often are charts any use on betfair? and to an extent i agree with some of the dobters as their is alot of false information that flows throught the betfair markets as a result of people trying to force others into a corner for an extra tick or two….
However, not always but often in certain situations technical analysis of markets and charts can be put to good use, like the example above, theirs plenty of market noise in their although if you looked away from the unmatched money stacked in huge piles all over the show to what was actually happening you would see their was some usefull information, granted it’s not always going to be like this although through technical analysis alone i think i may have stumbled on a minor edge today that will help me daily although not in every market. That said i’d rather have an extra string to my bow for a few races a day than not.
Ok, so what we looking at? 3 minutes before post time on the favorite mid afternoon. Obviousy 3 minutes is not alot of time to plot in your head the support and resistance but if you take time to learn the basics then it won’t be long before you see it coming. The most interesting bit for me watching this was the first ‘break through’ as it took some time for the price to break out but once it did their was a high level of resistance where the support once resided… an indication of people being caught out possibly… so, in summary… basic technical analysis does work on the sports exchanges obviously bearing in mind sentiment if you study it carefully! Beware though…. its just a guide.
Over the last week or so i’ve had a hard time of it trading, maybe down to using too bigger stakes and the less liquidity since the PC3 release… which has made it difficult for me mentally at times so i’ve took a step back and started to work on my mind a little more, today was the first day since the begining of the month it started to get better again so woohoo!! long may it continue…. ‘trading depression’ cycle broke as i like to put it.