How Do I Set Buy Stop Gold Order and Sell Stop Gold Order on MetaTrader 4?
How to Set Buy Stop XAUUSD Orders & Sell Stop XAUUSD Orders on MT4
Setting Buy & Sell Stop Gold Orders on MetaTrader 4 Platform
Open a gold trading XAUUSD Trading Chart - Right-Click on Gold Chart, Select New Order, then Follow the steps below:
Step1: Choose Pending order as illustrated below
Step2: Choose 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 & Sell Entry XAUUSD Order - Pending Gold Orders
These pending gold orders are used by traders wanting to trade a set-up like consolidation chart pattern but they don't want to wait & 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 xauusd price & a break-out 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 explained and shown below a buy stop order was placed to buy at a level above current market xauusd price.
The xauusd price then went up to hit the order, and afterward xauusd price continued to move upwards.
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 price broke a resistance line in first example & when there was an upward break out 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 downward to hit the order, and afterward the downwards 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 pending order after support line is broken after a consolidation chart pattern.
