Tell Me Why I Don’t Like Mondays?

The lyrics for ‘Tell Me Why I Don’t Like Mondays!’ by the Boomtown Rats used to epitomise how I often felt as a Forex Trader trying to take new trades on Mondays. Often I would be seduced into trades by false signals, one way and then the other, leading to extreme frustration.  This was the case until I realised that Mondays are days when the markets will most often churn and consolidate and where unsuspecting traders can be preyed upon by the big players and Market Makers seeking liquidity. The market would move in one direction and then reverse and then end up pretty much where it had started.  As the week progressed, I noticed that the quality of potential trades improved until Friday, when things tailed off. 

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