From my observation of using tick charts, there is a tendency for the opening to continue the direction previously set from the late afternoon of previous day. The overnight tend to pull back then pull back, or move ahead then pull back at the opening (provided the news at 10AM doesn't bring surprises to change direction and market opinion). One of the setups I trade is to wait the first pivot to be made, and determine if the pivot is a higher low/high (from upward direction of previous day) or lower high/low (downward direction from previous afternoon). It's a not a sure-fire setup, but does provide clues to the probable momentum for the opening. Tick charts with overnight action show this better than regular charts.
