What is the Difference between Sell Limit Gold Order and Buy Limit Gold Order?
What is a Sell Limit Gold Order?
A sell limit order is an order to sell gold at a better price after xauusd price has retraced upward from its current level.
A sell limit order is an order to sell after the xauusd market retraces upwards within a downward trend.
A sell limit is only executed when the prices moves upwards and retraces to the set sell limit level.
Entry Limit XAUUSD Orders: Sell Entry Limit
Sell Limit Gold Order definition - Entry sell limit is an order to sell gold at a certain xauusd price which is a retracement level where xauusd price is predicted to pullback to before resuming the original Gold trend.
Traders use sell limit orders to sell at better market price. These types of sell limit orders are available in most online trading platforms, for our example we will use the MT4 platform.
An entry sell limit order of this type can be used to sell above the xauusd market level (retracement pullback in a down gold market trend).
Sell limit - When selling, your entry sell limit is executed when the xauusd market rises to your set xauusd price. ( retraces up )
Entry orders are placed by traders when they expect xauusd price to pullback downward after reaching this level.
- Entry Sell Limit Gold Ordersell at a level above the current market level.
What is a Sell Limit Gold Order Example?
In the xauusd trading example illustrated and explained below a the sell limit order was placed to sell at a xauusd price above the current market xauusd price. This is the level for the xauusd price retracement.
Sell Limit Gold Order Placed to Sell above the Current Market Gold Price
The xauusd price then rallied, went up to hit the sell entry limit, and afterwards xauusd price continued to move downwards in the direction of the original Gold Trading downward trend.
Gold Price Hits Sell Limit XAUUSD Order - Order now Changes to a Sell order
When xauusd price hit the set sell limit order level the sell limit order changed to a sell order, this is therefore a good method to sell at a better xauusd price after a retracement.
What is a Buy Limit XAUUSD Order?
A buy limit order is an order to buy gold at a better price after xauusd price has retraced from its current level.
A buy limit order is an order to buy at a lower xauusd price than the current xauusd price
A buy limit is only executed when the prices drops and retraces to the set buy limit level.
Entry Limit Gold Orders: Buy Entry Limit
Buy Limit Gold Order definition - Entry limit is an order to buy a Gold Trading at a certain xauusd price which is a retracement level where xauusd price is predicted to pullback 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 available in most online trading platforms, for our example we will use the MT4 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 price. ( retraces down )
Entry orders are placed by traders when they expect xauusd price to bounce back after reaching this level.
- Entry Buy Limit Gold Orderbuy at a level below the current market level.
Buy Entry Limit XAUUSD Order Example
In the xauusd trading example illustrated and explained below, the buy limit order was placed to buy at a xauusd price below the current market xauusd price. Point Marked B is the point at which it was set.
Buy Limit Gold Order Placed to Buy Below the Current Market Gold Price
The xauusd price then retraced and went down to hit the buy entry limit, and afterwards xauusd price continued to move upwards in the direction of the original Gold Trading upward trend. When the limit buy order was hit it changed to a buy order.
Gold Price Hits Buy Limit XAUUSD Order - Buy Limit Gold Orders Now Changes to a Buy Order
