The $37.75 area should serve as a pivotal point that, if broken, could trigger short covering and send silver prices climbing towards $38.00 and, in turn, the $38.30 to $38.35 area.#YourFavoriteEATool#ForexBasicKnowledgeChallenge

The $37.75 area should serve as a pivotal point that, if broken, could trigger short covering and send silver prices climbing towards $38.00 and, in turn, the $38.30 to $38.35 area.#YourFavoriteEATool#ForexBasicKnowledgeChallenge

Oscillators on the daily and 4-hour charts remain negative, suggesting that further downside resistance lies ahead for silver prices. Therefore, any subsequent rally is more likely to face stiff resistance around the $37.24 area (200MA on the 4-hour chart).

Oscillators on the daily and 4-hour charts remain negative, suggesting that further downside resistance lies ahead for silver prices. Therefore, any subsequent rally is more likely to face stiff resistance around the $37.24 area (200MA on the 4-hour chart).

#CommunityAMA Promoting a Culture of Openness about Losses Discussions within online forex trading communities can collectively promote a culture of openness and transparency about losses. While many forums focus on showing wins, a healthy community often includes discussions where members feel comfortable sharing their losing trades and asking for advice. This creates a shared understanding that losses are a normal and necessary part of trading. This peer-driven transparency influences individual traders to be more realistic about their expectations, to not feel isolated when they lose, and to focus on the process of learning rather than solely on the outcome. This fosters a more resilient and supportive environment, which is crucial for the psychological well-being of a trader.

#CommunityAMA Promoting a Culture of Openness about Losses Discussions within online forex trading communities can collectively promote a culture of openness and transparency about losses. While many forums focus on showing wins, a healthy community often includes discussions where members feel comfortable sharing their losing trades and asking for advice. This creates a shared understanding that losses are a normal and necessary part of trading. This peer-driven transparency influences individual traders to be more realistic about their expectations, to not feel isolated when they lose, and to focus on the process of learning rather than solely on the outcome. This fosters a more resilient and supportive environment, which is crucial for the psychological well-being of a trader.

Last week, silver fell below the support of the nearly two-month rising channel and the 200MA area on the 4-hour chart is seen as a key resistance area for silver bears.

Last week, silver fell below the support of the nearly two-month rising channel and the 200MA area on the 4-hour chart is seen as a key resistance area for silver bears.

Silver is currently trading around $37.15, not far from the four-week low of $36.19 hit last Thursday.

Silver is currently trading around $37.15, not far from the four-week low of $36.19 hit last Thursday.

Boosted by weak US non-farm payroll data and a 2.23% rise in gold last Friday, silver's rebound was smaller and weaker than gold's, and its price may consolidate downward.

Boosted by weak US non-farm payroll data and a 2.23% rise in gold last Friday, silver's rebound was smaller and weaker than gold's, and its price may consolidate downward.

On Monday (August 4th) during the Asia-Europe session, silver prices continued to rebound and are currently trading around $37.15 per ounce, up about 0.38%.

On Monday (August 4th) during the Asia-Europe session, silver prices continued to rebound and are currently trading around $37.15 per ounce, up about 0.38%.

Spot silver rebounded last Friday, boosted by the weak non-farm payrolls and rising gold prices, but the rebound was weak and there is still further downside risk in the future.#SharingTradingMistakesAndGrowth#BrokerEvaluation

Spot silver rebounded last Friday, boosted by the weak non-farm payrolls and rising gold prices, but the rebound was weak and there is still further downside risk in the future.#SharingTradingMistakesAndGrowth#BrokerEvaluation

#CommunityAMA Influencing the Perception of Trading Costs Discussions within online forex trading communities can collectively influence the perception of trading costs, such as spreads, commissions, and swaps. When members share screenshots of tight spreads from one broker versus wide spreads from another, it creates a shared understanding of what constitutes a "fair" price for executing a trade. This peer-driven comparison influences individual traders to seek out brokers with the lowest costs, often leading to a community-wide focus on cost-cutting over other factors like execution quality or regulatory oversight. This can sometimes lead traders to switch to less reputable brokers simply to save a few dollars on spreads.

#CommunityAMA Influencing the Perception of Trading Costs Discussions within online forex trading communities can collectively influence the perception of trading costs, such as spreads, commissions, and swaps. When members share screenshots of tight spreads from one broker versus wide spreads from another, it creates a shared understanding of what constitutes a "fair" price for executing a trade. This peer-driven comparison influences individual traders to seek out brokers with the lowest costs, often leading to a community-wide focus on cost-cutting over other factors like execution quality or regulatory oversight. This can sometimes lead traders to switch to less reputable brokers simply to save a few dollars on spreads.

#CommunityAMA Driving the Use of Specific Copy Trading Platforms Discussions within online forex trading communities can collectively drive the widespread adoption of specific copy trading platforms. When members share positive testimonials and performance charts of "master traders" they are following, it generates significant interest and trust in a platform. This peer-driven endorsement influences a large number of traders, especially beginners, to try copy trading as a way to generate passive income or learn from experts. This leads to a collective reliance on these platforms, creating a dynamic where the community's financial success is tied to the performance of a few popular traders, and potentially causing a large-scale emotional reaction if a popular master trader suffers a significant loss.

#CommunityAMA Driving the Use of Specific Copy Trading Platforms Discussions within online forex trading communities can collectively drive the widespread adoption of specific copy trading platforms. When members share positive testimonials and performance charts of "master traders" they are following, it generates significant interest and trust in a platform. This peer-driven endorsement influences a large number of traders, especially beginners, to try copy trading as a way to generate passive income or learn from experts. This leads to a collective reliance on these platforms, creating a dynamic where the community's financial success is tied to the performance of a few popular traders, and potentially causing a large-scale emotional reaction if a popular master trader suffers a significant loss.

#CommunityAMA Fostering a Culture of "Revenge Trading" or Discipline Discussions within online forex trading communities can collectively foster a culture of "revenge trading" or its disciplined opposite. A community that normalizes the emotional response of chasing losses can inadvertently encourage members to take overly large or rash trades after a loss. Conversely, a community that emphasizes post-trade analysis, emotional control, and sticking to one's plan can create a powerful peer pressure for discipline. This collective environment, whether through shared stories of success or failure, influences individual traders' psychological responses to losing trades, either reinforcing destructive habits or promoting a healthy, accountable approach to handling setbacks.

#CommunityAMA Fostering a Culture of "Revenge Trading" or Discipline Discussions within online forex trading communities can collectively foster a culture of "revenge trading" or its disciplined opposite. A community that normalizes the emotional response of chasing losses can inadvertently encourage members to take overly large or rash trades after a loss. Conversely, a community that emphasizes post-trade analysis, emotional control, and sticking to one's plan can create a powerful peer pressure for discipline. This collective environment, whether through shared stories of success or failure, influences individual traders' psychological responses to losing trades, either reinforcing destructive habits or promoting a healthy, accountable approach to handling setbacks.

India explained that if the global market stops receiving 9.5 million barrels of oil per day from Russia, oil prices may rise to $135-140 per barrel.#ForexBasicKnowledgeChallenge#YourFavoriteEATool

India explained that if the global market stops receiving 9.5 million barrels of oil per day from Russia, oil prices may rise to $135-140 per barrel.#ForexBasicKnowledgeChallenge#YourFavoriteEATool

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) reached a consensus through a video conference on Sunday and decided to complete the originally scheduled one-year production recovery plan in September this year ahead of schedule, significantly increasing crude oil production by 548,000 barrels per day.

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) reached a consensus through a video conference on Sunday and decided to complete the originally scheduled one-year production recovery plan in September this year ahead of schedule, significantly increasing crude oil production by 548,000 barrels per day.

Hot options trading is driving Japanese exchanges to seek listings of over-the-counter (OTC) yield-enhancing ETFs. Japan's major stock exchanges are seeking to capitalize on the growth opportunities in yield-enhancing strategies.#SharingTradingMistakesAndGrowth#BrokerEvaluation#ExpertReview##ExpertReview#VeteranIBSuccessStory

Hot options trading is driving Japanese exchanges to seek listings of over-the-counter (OTC) yield-enhancing ETFs. Japan's major stock exchanges are seeking to capitalize on the growth opportunities in yield-enhancing strategies.#SharingTradingMistakesAndGrowth#BrokerEvaluation#ExpertReview##ExpertReview#VeteranIBSuccessStory

The yen earlier posted its biggest weekly drop of the year after the Bank of Japan signaled it was in no hurry to resume interest rate hikes, prompting Finance Minister Katsunobu Kato to say on Friday that Japanese authorities were concerned about recent exchange rate movements.#ForexBasicKnowledgeChallenge#YourFavoriteEATool

The yen earlier posted its biggest weekly drop of the year after the Bank of Japan signaled it was in no hurry to resume interest rate hikes, prompting Finance Minister Katsunobu Kato to say on Friday that Japanese authorities were concerned about recent exchange rate movements.#ForexBasicKnowledgeChallenge#YourFavoriteEATool

The Canadian dollar rose 0.44% to C$1.38 against the U.S. dollar, having earlier retreated to C$1.3879, its weakest since May 22. Canada was slapped with a 35% tariff, rather than the threatened 25%.#SharingTradingMistakesAndGrowth#BrokerEvaluation

The Canadian dollar rose 0.44% to C$1.38 against the U.S. dollar, having earlier retreated to C$1.3879, its weakest since May 22. Canada was slapped with a 35% tariff, rather than the threatened 25%.#SharingTradingMistakesAndGrowth#BrokerEvaluation

The dollar fell 0.76% against the Swiss franc in late New York trading to 0.806, having earlier hit 0.8171, the highest since June 23.#SharingTradingMistakesAndGrowth#BrokerEvaluation

The dollar fell 0.76% against the Swiss franc in late New York trading to 0.806, having earlier hit 0.8171, the highest since June 23.#SharingTradingMistakesAndGrowth#BrokerEvaluation

The euro rose 1.16% to $1.1547 against the dollar. Earlier on Friday, the euro fell to $1.1389, its lowest point since June 10.

The euro rose 1.16% to $1.1547 against the dollar. Earlier on Friday, the euro fell to $1.1389, its lowest point since June 10.

The unemployment rate rose to 4.2% from 4.1% in June, in line with expectations. June job creation was revised down to just 14,000 from the previously reported 147,000.

The unemployment rate rose to 4.2% from 4.1% in June, in line with expectations. June job creation was revised down to just 14,000 from the previously reported 147,000.

The dollar fell against the euro and yen on Friday, posting its biggest one-day drop since April, after data showed U.S. employers added fewer jobs in July than economists expected and June's job gains were revised sharply lower, leading traders to increase bets on how many times the Federal Reserve may cut interest rates this year.#BrokerEvaluation

The dollar fell against the euro and yen on Friday, posting its biggest one-day drop since April, after data showed U.S. employers added fewer jobs in July than economists expected and June's job gains were revised sharply lower, leading traders to increase bets on how many times the Federal Reserve may cut interest rates this year.#BrokerEvaluation