Buy Stop Gold Order Definition & Examples

What Does Buy Stop XAUUSD Order Mean?

A Buy Stop Gold Order is an order to buy gold after the price rises to the set buy stop xauusd price level.

The buy stop pending order is always set to buy above existing market xauusd prices.

What is Buy Stop Gold Order Example?

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 of the gold instrument then went up to hit the buy stop pending order, and afterward xauusd price continued to move upwards.

Setting Buy Stop Gold Order above Resistance Level - What's Buy Stop Gold Order?

The buy stop order is also used to set pending gold order when there's a consolidation pattern on a xauusd chart. The Buy stop order is used to set a buy order just above consolidation chart pattern as illustrated below so that if there is a xauusd price break out upward after the consolidation pattern then a new buy order is opened - by buy stop order once the buy stop xauusd price set is reached.

Setting Buy Stop Gold Order in a Gold Break out

A Buy trade was generated from the above buy stop order when the price broke a resistance area in first example and when there was an upwards xauusd price break out after a market consolidation chart pattern on second buy stop order example.