Counter trend trading on Fridays [Idea]

Im new to trading (only started demo trading 2 months or so) so take this only as my personal thoughts on trading fridays.

The idea is very simple we see what the trend was this week, if the trend was bullish (for example), on Friday we short. The idea here is that traders that were porfitable that week will close their positions on Friday to lock in the profits and avoid having open positions during the weekend pushing the prices down that day. Other things to look at are support and resistance levels if on Thursday prices go up to an area of resistance but doesnt break it, and the trend that week was bullish on Friday we short because of the reasons that i stated above but also because traders may not want to risk leave the trades open so close to a resistance level and risk a reversal or a sharp move against them during the weekend and might want to try break trough the resistance next week.

This idea is still very rough and i still havent considered news releases or market hours, stops, TP… but what do you guys think? I would like to hear some feedback is it worth to persuit this idea further or is it a failed idea?

That’s able to be a viable strategy. Have you heard about Joel Rensink’s strategy “One Night Stand”? Might be of some use :slight_smile: