“Never buy a Friday high” (“Never sell a Friday low”)

“Never buy a Friday high” and “Never sell a Friday low” are popular adages at DailyFX. The trends are often old news and reverse on Monday.
 
“Price & Time: Never Buy a Friday High?” was cited on DailyFX on March 8, 2013. “As @KKerrFX and others say..‘never buy a friday high’-in this case…dont sell a friday low” was cited on Twitter on July 17, 2013.
   
     
DailyFX
Price & Time: Never Buy a Friday High?
By Kristian Kerr, Sr. Currency Strategist
08 March 2013 17:25 GMT
 
Twitter
Jamie Saettele
‏@JamieSaettele
as @KKerrFX and others say..‘never buy a friday high’-in this case…dont sell a friday low
7:12 AM - 12 Jul 2013
 
Twitter
David Rodriguez
‏@DRodriguezFX
Dusting off some code for this oldie-but-goodie. Why we don’t buy a Friday high/sell a Friday low.
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10:04 AM - 21 Mar 2014
 
Twitter
Kristian Kerr
‏@KKerrFX
How does the saying go? Never buy a Friday high?
10:00 AM - 6 Oct 2014
 
Twitter
David Rodriguez
‏@DRodriguezFX
That ‘never buy a Friday high’ is of course a @JamieSaettele original. Here’s a key reason why it’s true:
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10:00 AM - 15 May 2015
 
Twitter
Alexander Ivanchev
‏@Alexander4796
Never buy a friday high and never sell a friday low
2:35 AM - 21 Aug 2015
   
DailyFX
Price & Time: GBP/USD Squeezes Higher - What Now?
By Kristian Kerr, Sr. Currency Strategist
08 September 2015 16:00 GMT
US traders have come back to their desks this morning after a three day weekend to find GBP/USD has retraced all of last week’s decline. Given where we closed on Friday (i.e. through various levels of support including the 50% retracement of March - June advance) the move is clearly perplexing to many. M&A flows have gotten the blame, but I chalk it up more to short-term cycles and the US bank holiday. There is an old saying in FX that goes “never buy a Friday high” (or sell a Friday low). This probably goes double for cable ahead of a three day weekend as if there is any “pain trade” to sniff out in thin conditions the interbank market will usually find it in sterling.