What is a Buy Stop XAUUSD Order and Sell Stop Gold Order?
Buy stop gold orders and Sell stop gold orders are gold orders used to buy above or below the current market xauusd trading price.
These gold orders are popularly used to trade when there is a consolidation chart pattern - placing a buy stop to buy above the consolidation chart pattern and placing a sell stop to sell below the consolidation chart pattern.
Buy Stop XAUUSD Order and Sell Stop Gold Order after a Consolidation Trading Pattern
These stop gold orders are 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 current market xauusd trading price.
- Sell Stop Gold OrderAn order to sell at a level below the current market xauusd trading price.
What is a Buy Stop XAUUSD Order and Sell Stop Gold Order?
These buy stop and sell stop 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 trading prices all day long until there is a xauusd trading price break out.
Therefore, gold traders will set these pending buy stop orders and sell stop orders above and below the current xauusd trading price and a xauusd trading price breakout in any of these direction will execute one of these pending stop gold orders and a buy gold trade or a sell gold trade will automatically be opened.
