Betfair charts help a lot in Betfair trading without doubt. Bet Angel goes even further providing real-time charts with candlesticks. In this betfair trading video I show you how to make money when a breakout occurs in the betangel’s charts and how to spot the odds’ trend. Once again I’m trading the horse racing markets in Betfair before the start.
Right from the start of the betfair video, the so-called “breakout” has already happened. A couple of minutes before my recording the horse’s odds were moving between 2.90 and 3.15. The odds have touched each price twice, making them even more important and defining those figures as the support and resistance levels. Seconds before the recording we notice that the odds have broken the support level at 2.90 and they have started falling. From that moment on I consider the odds to be in a downward trend, which would lead me to always back first in order to lay at a later point. I will never trade in that specific betfair market with the intention to see the odds drifting, the chart has spoken!
At about 2 minutes before the race’s off, we see that the betting odds are starting to drift back up and I’m left with an unmatched lay at 2.68. Since the odds have bounced off at 2.68, they have found a new support level at 2.68, while at the same time the previous support level (2.90) has now become the new resistance level. I’m highly expecting the odds not to drift higher than 2.90. For that reason when the odds reach 2.86 and begin falling down once again, I re-enter the market and manage to make one more profitable trade according to my initial impression; that is the downward trend. However I move my unmatched bet higher so that I close my open position, since I am used to follow one simple rule: not to have an open position for too long. At that moment the trend seems to have lost some of its speed, so there is no need to risk my open position. Besides I will be able to start a new trade with a clearer mind.
As time goes by, the amount of money start to pile up in the pink betangel’s squares and the weight of money pushes the odds further down. I do one more trading from 2.72 to 2.68 making some more money. Although the chart screams that the support level at 2.68 will be also broken and the trend will be accelerating, there are only 30 seconds until the race begins, so I have to green-up (how to green-up). Notice that as soon as the odds break the support at 2.68, they almost reach 2.50 in 40 seconds’ time when the video ends, proving that the initial breakout I had spotted gave all the information I needed. And that is to always follow the trend which in this situation was a downward trend. This is the most useful advice I have to give to betfair traders; always follow the trend.
In case there is no apparent trend, take a look into another trading video of mine showing how to make money in an inactive Betfair market.