A good example of using the Betfair Chart effectively is in the analysis of support and resistance levels, as it is helpful to know the upper and lower limits of variation of the odds. This analysis is used by traders when they trade before the start of the match (pre-live).
'Support' and 'resistance' are two imaginary horizontal lines that serve as upper and lower limits for the variation of the odds. When the odds exhibit a trend to increase or decrease, once they reach the support or resistance line, it is highly probable that the trend will be reversed.
• If it was rising, once it gets to the resistance line, the trend reverts and starts falling.
• Similarly, if the odds were falling, once it gets to the support line, the trend reverts and then starts rising.
Trading software Traderline allows you to access a large variety of charts, including the Betfair chart, which will make your market analysis simpler and faster.
When analysing the levels of support and resistance in the Betfair chart, you must have in mind that the resistance lines are always above the odds and that, when they are crossed by the market odds, they then serve as new support lines.
Similarly, the support lines work as a lower limit for the odds. When the support line is crossed, it usually becomes the new resistance line.
Knowing the support and resistance odds, you can anticipate any changes in the market and buy or sell at the best price, because when a market's odds get close to these levels, the trend will probably revert. This way, you can start making a profit through trading even before the start of the match.
Watch this video for more on how to use the Betfair chart
For a selection of Betting Apps for Betfair.com please see the Betfair App Directory.