Namely, is there a way to determine the probability that an hourly candle will close either bullish or bearish; when the candle opens. For example, if I want to enter trades on the open of hour candles...is it possible for me to calculate the probability of a bearish close and the probability of a bullish close for that particular hour candle when it opens. Is there a way to calculate this by looking at previous hour candles, price activity within the preceding candle, or some other tech. indicator? I hope that this makes sense.. your help would be greatly appreciated!!
