Yes, the probability cloud tells you how the hydrogen atom (H-O-H) will be shaped. The atoms will be repelled by the electrons that create this probability cloud and this will force the atoms into a geometry with minimal energy (which is the shape you are probably familiar with). Just remember that it's a probability so the shape isn't set in stone, it's more like the most common shape. A common way to learn this is by implementing the Hartree-Fock algorithm. https://en.wikipedia.org/wiki/Hartree%E2%80%93Fock_method