Its an interesting question;
I am an older TS, in later years, but because of the HRT treatment over the years (I started 30 years ago , then had a break and de-transitioned at age 32), most people guess my age as late 40s (ie about 14 years younger than what I am).
I am now 14 months on Oestrogen only and when dressed as a woman, I rarely if ever get "read". If I do its by young pre-teen girls as I did in Bournemouth in England with a TS friend last month when I was in Debenhams, looking for a new Bra!. Although I think they were not sure as they stopped looked, giggled and went on with Mum, lookimg at dresses!
Luckily I have no Adams apple, very small hands, small feet and I generally make sure my nails and toenails are perfectly manicured and I dress reasonably conservatively but always with a dress or skirt (pants or trousers/jeans are too much of a giveaway, although now that my bottom is more rounded and I have added 4" to my hips, a skinny pair of jeans is workable).
Also since I did the Colour coordination course for selecting the best clothes for my complexion and had my eyebrows professionally shaped (with a nice feminine curve) and always have my eyelashes tinted (Blue black) together with as near perfect makeup as possible. )I have had laser and electrolysis, but more to go), I generally pass as female 99% of the time and people always refer to me as Miss, Mam, Madam etc
In boy mode (for work), most people see me as a chubby, overweight, older guy (Unfortunately MPB got me early on), but my boobs these days are 44B+ so I have to wear baggy clothes as male as otherwise my boobs are too obvious as my nipples are quite obvious. So no jogging or running for a tram with just a tea shirt on in summer without a bra one. Mind you I wear one these days mostly continuously as my breasts are rapidly heading to C Cup.