How Do I Set Buy Stop Gold Order and Sell Stop Gold Order on MT4?
How to Set Buy Stop XAUUSD Orders and Sell Stop XAUUSD Orders on MT4
Setting Buy and Sell Stop Gold Orders on MetaTrader 4 XAUUSD Trading Software
Open a gold trading XAUUSD Trading Chart - Right Click on the Gold Chart, Select New Order, then Follow the steps below:
Step1: Select Pending order as shown below
Step2: Select Pending order Menu as Show below
Step3: Select Buy Stop Gold Order or Sell Stop Gold Order
Step4: Click "Place" Order
Steps to Setting Pending Gold Orders on MT4
Entry Stop Gold Orders
These are pending gold orders to buy above the xauusd market or to sell below the xauusd market.
- Buy Stop Gold OrderAn order to buy at a level above the xauusd market xauusd price.
- Sell Stop Gold OrderAn order to sell at a level below the xauusd market xauusd price.
Buy Entry and Sell Entry XAUUSD Order - Pending Gold Orders
These pending gold orders are used by traders wanting to trade a setup like the consolidation chart pattern but they do not want to wait and watch the xauusd prices all day long until there is a xauusd price breakout. Therefore traders will set these pending gold orders above and below the xauusd price and a breakout in any of these direction will execute one of these pending gold orders and a buy gold trade or a sell gold trade will automatically be opened.
Buy Stop Gold Order
In the examples below a buy stop order was placed to buy at a level above the current market xauusd price.
The xauusd price then went up to hit the order, and afterwards xauusd price continued to move upward.
Setting Buy Stop Gold Order above Resistance Level - Buy Stop Gold Order Pending Order
Setting Buy Stop Gold Order in a Gold Trading Breakout - Buy Stop Gold Order Pending Order
A Buy trade was generated from the above pending gold order when the price broke a resistance line in the first example and when there was an upward breakout after a gold market consolidation.
Sell Stop XAUUSD Order
In the xauusd trading example illustrated and explained below a sell stop order was placed to sell at a level below the current market xauusd price.
The xauusd price then went downwards to hit the order, and afterwards the downward move continued
Setting a Sell Stop Gold Order Below a Support Level - Sell Stop Gold Order Pending Order
Pending Sell Order Set in a Gold Price Breakout
A Sell trade was generated from the above pending sell stop order after support line is broken after a consolidation chart pattern.
