4 Types of Pending Gold Orders in Gold Trading
- Buy Limit Gold Order Specifies to buy at a level below the current gold market price
- Sell Limit Gold Order Specifies to sell at a level above the current market xauusd price
- Buy Stop Gold Order Specifies to buy at a level above the current xauusd trading market price.
- Sell Stop Gold Order Specifies to sell at a level below the current xauusd trading market price.
Limit XAUUSD Orders and Stop Gold Orders
Pending Gold Orders are orders that are used to open a new gold trade position after the xauusd market reaches a xauusd price specified by the gold trader.
Pending Gold Orders are used to buy or sell when the price quote attains a certain xauusd price target.
When a specific xauusd price level is reached then a pending xauusd order is executed.
Pending Gold Orders are used to enter a gold trade at a specified price level. It is almost impossible to monitor the gold market every second and this is why a pending gold order can be used. If you feel the gold market may take a certain action, such as break through a particular xauusd price level that it has been touching but it has not been able to break this level, then as a gold trader you would want to use a Pending Gold Order. Once the xauusd price quote crosses your specified level, your pending xauusd order is executed.
There are two different types of pending orders - xauusd trading limit order and xauusd trading stop order.
These pending gold orders are also known as gold entry orders.
Limit XAUUSD Order
An order to buy or sell at a certain limit.
An gold trading pending limit order can be used to buy below the current xauusd price quote or sell above the current xauusd price quote.
When buying, gold trading pending limit order is executed when the price falls to your limit xauusd price quote level.
When selling, gold trading pending limit order is executed when the price rises to your limit xauusd price quote level.
These Limit Gold Orders are placed by traders when they expect the xauusd price to bounce back after reaching the xauusd price quote level at which the pending limit xauusd trade order was opened.
- Buy Limit Gold Order Specifies to buy at a level below the current xauusd price
- Sell Limit Gold Order Specifies to sell at a level above the current xauusd price
Stop Gold Order
A gold pending stop order is an order to buy above the current xauusd market price or to sell below the current xauusd price.
When buying, a pending stop gold order is executed as the gold market goes up and hits the buy stop xauusd price quote level.
When selling, a pending stop gold order is executed as the xauusd market price goes down and hits the sell stop xauusd price quote level.
- Buy Stop Gold Order Specifies to buy at a level above the current xauusd price.
- Sell Stop Gold Order Specifies to sell at a level below the current xauusd price.
