Buy Limit Gold Order Definition & Examples
A buy limit order is an order to buy gold at a better price after xauusd price has retraced from its current zone.
A buy limit order is an order to buy at a lower xauusd trading price than the current xauusd trading price
A buy limit is only executed when the prices drops & retraces to the set buy limit zone.
Entry Limit Gold Orders: Buy Entry Limit
Buy Limit Gold Order definition - Entry limit is an order to buy a Gold at a certain xauusd trading price which is a retracement level where xauusd price is predicted to pull back to before resuming the original Gold trend.
Traders use buy limit orders to buy at better market price. These types of buy limit orders are provided for in most of the online trading platforms, for our examples we will use MetaTrader 4 trading platform.
An entry buy limit order of this type can be used to buy below the xauusd market level (retracement in an up gold trend market).
Buy limit - When buying, your entry buy limit is executed when the xauusd market falls to your set xauusd trading price. ( price retraces down )
Entry orders are placed by traders when they expect xauusd trading price to bounce back after reaching this zone.
- Entry Buy Limit Gold Orderbuy at a level below the current market level.
Buy Entry Limit XAUUSD Order Example
In the xauusd trading examples illustrated and described below, the buy limit order was placed to buy at a xauusd trading price below the current market xauusd trading price. Point B is the point at which it was set.
Buy Limit Gold Order Placed to Buy Below the Current Market Gold Price
The xauusd trading price then retraced and went down to hit the buy entry limit, and afterwards xauusd trading price continued to move upward in direction of the original Gold upward trend. When the limit buy order was hit it changed in to a buy order.
Gold Price Hits Buy Limit XAUUSD Order - Buy Limit Gold Orders Now Changes to a Buy Order
