Friday, The Untouchable Day

Do a search on any forex forum regarding Friday, you could easily find comments on not to trade on this day by many traders, and claims from some veteran traders that they either make less trade or none at all. 

I myself, have had suffered on Friday due to many trades lost. Even through constant reminder to myself not to trade on this day, it is uncontrollable when you are looking at the candle stick chart and see a potential setup for entry. 

The market on Friday tends to be unstable and unpredictable. As the day is the last opening day for the week before the market closes, access and control to traders' open trades would be denied on the weekends. 

Also, there are news events that will cause volatile movements on this day. An example would be the Non-Fall Payroll news event occurs on every first friday of the month. 

If you have the intention to trade on this day, do approach and monitor the market closely. 

*Refer to next post for an example of a market chart on Friday.