Can anyone tell me if is it possible for one to tell if an hourly candle will be bullish or bearish @ the open, if so, how would one go about doing this (namely, what indacators and/or timeframes should one use?) I would really appreciate your input.
What do you mean by “bullish” or “bearish” at the “open”? Please elaborate.
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!!