I know we’re not suppose to isolate a candle like that, because it’s all about context (S/R, etc.), but which candle do you think is more bullish (or may I say ‘bullisher’)?
Someone could easily say it’s the second one (higher high), but idk, it seems less trustworthy, more erratic, more suscetible to generate a bearish candle next.
What do you think?
P.S.: I don’t do Price Action (actually I’m just backtesting some strategies), I just like to hear some opinions.
Using one candle to derive next price action has a low probability of success. However, as the first candle has seen a lower fall from its high in % terms, it is more bullish. But the difference is minor, I don’t think on its own it would convince me to get in, get out, to hold or do anything else.
I agree with your first sentence.
I always tought Price Action as a whole to be totally bullshit (no offense to anybody, and I’m in no position to make such a claim), that’s why I like my Renko chart (and my indicators).
But now I’m looking at the markets with a candlestick eyes (I’m not isolating one from the other) and I maybe it could mean something (even in isolation: it’ll mean a lot less, but it’ll still mean something*… How much? Idk).
Of course, not enough to get in/out, but probably to hold (if your exit indicator says otherwise).
*The sad thing is that it isn’t backtestable.
Those candles mean absolutely nothing without relativity or context.
For example, do they occur in an existing uptrend or downtrend, what is the timeframe (e.h. one week/day/hour/min?), Is it before/after a data release, in early morning trading, EOD, friday close, holiday trading, what instrument (typical volatility), etc, etc, etc.
Not possible to tell. I have seen both go higher and lower.
Off what little there is either will only become bullish when the high is taken out.
I do think there is a higher chance the second one leads to lower prices - but heh thats a wild guess.
Basically, I measure the strength of any trend according to the full structure of my trading chart; a single candle doesn’t represent the story!
We pretty much agree seeing one of these candlesticks alone is insufficient to have an edge that would justify a trade.
So, what do we think is the minimum extra chart and other information we would need to have an edge in a trade using either of these candlesticks?
I would suggest I would have a better than 50% chance of a win if I only had the 2 prior candlesticks plus the 20EMA.
I guess, based on your own trading approach, that you have the daily chart in mind here? Is so then i would agree that that is a reasonable minimal approach (if one wants to rely on candle patterns at all).
I would maybe add that perhaps sometimes the candles either side of the “signal” candle are worth waiting for rather than just the 2 prior candles?
For example, in the case of the OP question, one could wait for a close on the next candle above the high of this"signal" candle to confirm a bullish probability?
I’m just thinking out loud really. Candles are not a big part of my own trading approach. 
Appreciate what you’re saying, but within the spirit of the original question, I think we have to assume that one of these two candles is the last candle available - its the hard right edge of the chart - and although we can have historic information from the left, further right is the future and we can’t use it. Also, a decision must be made now.
These artificial constraints of course - a decision to wait for more information is still a decision and often the best one. But I like the spirit of the challenge.
Do you mean which is the most bullish for the future or which is actually has displayed more bullish as it stands?
Clearly the first was showing more bullishness because the market closed closer to the high.
If your talking about future bullishness which i suspect you are I’d say if the next bar takes out both highs the second candle is more bullish because it has reversed more bearish action.
Are we allowed to see the lower timeframes in this little game or does that make it too easy? He he.
This is quite good fun. Next one please.
Ok, sorry! I thought you were extending the topic further.
If we are only talking about the “last candle” then the whole topic is meaningless unless there happens to be both candles together. If there is only one or the other then what is there to compare the last candle with? There cannot be a “longer” wick if there is not a “shorter” one to compare it with. And if there are both candles consecutively, then the issue of which is more bullish is again meaningless as whatever follows will be following both candles 
Why???
I am also a little intrigued by the idea of combining Renko charts with candles where one is entirely price based and the other entirely time based.
A decision must be made now only for the purposes of taking part in the challenge. There would never be a practical reason for a trader to feel obliged to make a decision to trade right now.
But my entry into this little Christmas puzzle stands - the minimum information on which I might make a trade entry decision would be the most recent 3 candles plus 20EMA.
I think that without context (i.e. the rest of the chart) a single candle has little meaning.