Got to thinking after revisiting the candlestick methodology. Take human behaviour observations, say someone's car is parked in the garage with a house entry door midway adjacent to the passenger side. I observe that everytime the driver gets out of the car, he/she has two choices, to walk around the front or back of the car to get to the door into the house. 98% of the time, for no perceived reason, the driver always walks around the back of the car!
Candlesticks are no different, they're common chart patterns, single bar shapes that occur frequently. What happens after them, maybe considering what happened before they were formed, is a human behaviour observation. If price either rose, went down or sideways after each event, markedly more often than another, you've just recognised a trait that could make you money or save you losing sum?
Reading candlestick texts written for stocks, forex and futures might give you some clues, but I wouldn't rely on it, as Betfair is a different dynamic. I would be recording data, charting same, then running tests to establish and confirm your own parameters. Just an idea?
Use candlesticks to mimic human behaviour on Betfair?
i keep banging on about my observation (which is not uniq!). the market (for horses at least) is a sealed unit that acts like a piston (in simple terms -the book%). one price goes down, one (or more go up) and vice a versa. by recording live data, this action can be seen and (retrospectively at present) can be interpreted. however, in reality, there exists an opportunity to trade either up/down when this piston flexes. I'm now modeling this (with mixed results) but am confident that it's possible to proactively discern the balance on all other market items based on the movement(s) of one or more related symbiotic natural alignments...
i of course may be wrong
i of course may be wrong