My entry was the first plateau at 2.00-2.02 and then the market moved sharply down all the way to 1.77. Silly me traded out at 1.93 but since I could not fundamentally explain why the market loved Ward so much I'd rather play it safe than get caught out on the rebound. The rebound came and moved the market all the way up to 2.00-2.02 again. This screen is just before the match started. Young won easy in straights.
I can only explain this with psychology. Something or someone made the market believe that Ward was really hot for this. Markets with traditional bookies opened with Ward a 2.20 dog but Betfair only traded small money at this price. Probably this caused bookies to drastically lower their prices on Ward and then people started believing something was wrong with Young or something and the more the markets steamed the more convinced punters got that Ward was huge value. Until someone realized it was not so. A classic double bottom at 1.77-1.76 and up it went. You could write an essay on technical analysis with this market alone. The trick is to read this while it happens, not like me, when I know what happened next. Still, I got away with €10 from the market so I can't complain.
Resistance-line
Double bottom indicates trend reversal
Trend-line
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