The betting graphs of Formula 1 drivers’ championship reveal declines and uptrends, which can be beneficial for sports traders interested in motor sports like me. I often use technical analysis to predict sports events and, depending on the patterns, I occasionally trade the betting odds. Long term trading is one of my favorites in sports betting, like football trading or betting on election and Eurovision, since there is plenty of time to react and not so much pressure when deciding; unless you trade without a plan in the first place! The 2012 Formula 1 championship may not be so popular compared with tennis or football betting, but the drivers’ betting graphs should get your attention. Like Grosjean’s graph in Monaco last Sunday!
- Sebastian Vettel : Uptrend
Profound support level at 3.00, no doubt about it! Those who laid at 3.00 are now already winners. The drifting odds have pulled back 100% after touching the all-time high of 7.0. I would lay at 3.00 if the odds try testing once more the support level.
- Lewis Hamilton : Consolidation
Hamilton’s odds are trading sideways between 3.00 and 5.00. There are three options of [intlink id=”48″ type=”category”]sports trading[/intlink] here. First, lay at 3.00 setting a stop loss at 2.50, back higher. Second, back at 4.50-5.00 setting the stop loss at 5.50, lay lower. Third, don’t enter the market unless a breakout occurs, either below 3.00 or above 5.00.
- Fernando Alonso : Potential uptrend
A reverted W pattern is apparent in Alonso’s Betfair graph. The formation is now complete and odds trade right on the crucial support level of 5.00. I would be surprised if odds don’t move upwards the following months.
- Jenson Button : Huge uptrend, Triple Bottom
Button’s odds to win 2012 F1 drivers’ championship skyrocketed as he managed to win just 2 points in the last 3 races. A triple bottom pattern was completed at 3.50 before the odds drifted up to 15! Would the odds continue trending up or pull back? Time will tell.
- Kimi Raikkonen : Support breakout
Raikonnen was an outsider to win 2012 Formula 1 championship. He still is but the odds have declined below the important support level (20.0) and the downtrend met resistance at 9.0. Odds may look to test the 20.0 level before resuming the downtrend.
- Mark Webber : Downtrend – Pullback
Webber’s odds graph is much like Raikonnen’s but the odds have already tested the downtrend’s support level at 15.0. A safe bet would be to back @15 and make money if the predicted downtrend resumes. A tight stop loss @17 is necessary though.