The reason behind the TGIF phenomenon is that during the end of the week, Retail Traders will try to chase a market.
The Market Makers will then punish those who chased the market near closing hours
by making a move towards their stop Losses.
This presents a final opportunity for the market makers to cover positions at the end of the week.
Smart Money will seek the Liquidity of traders that are chasing price.
Thanks for the humor. Such a laugh.
Towards the end of the week liquid drops off and those who don’t have risk appetite to leave positions open for the weekend are closing out their positions.
If smart money is seeking liquidity, then obviously you would want to trade during a time of the week with somewhere near to the lowest liquidity during the week.
And you try to generalize that retail traders will chase price in the last few hours before weekend closing. The thing about retail traders is there are so many different strategies people use and so many different times, trying to claim that retail traders will chase price in the last few hours before weekend closing is ludicrous.