Opening between yesterday's high and low in an ongoing trend?

Hello people,

Does price representation when opened between yesterday’s high and low mean something in an ongoing trend?

After checking over a couple of charts, my observation was that, let’s say, on an uptrend, if the price opened between yesterday’s high and low and broke yesterday’s high, the probability is high on the upside to continue moving, but in the same case, if it started to fall and closed below yesterday low, then a trend reversal can happen if it is near a supply zone.

Examine several thousand charts to lend credibility to your hypothesis.