What's the Difference between Sell Limit Gold Order & Buy Stop Gold Order?
What is Sell Limit XAUUSD Order?
A sell limit pending order is an order to sell gold at a better price after xauusd price has retraced upwards from its current zone.
A sell limit order is an order to sell after the xauusd market retraces upward within a downwards trend.
A sell limit is only executed when the prices moves upwards & retraces to the set sell limit zone.
Entry Limit Gold Orders: Sell Entry Limit
Sell Limit Gold Order definition - Entry sell limit is an order to sell 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 sell limit orders to sell at better market price. These types of sell limit orders are provided for in most of the online trading platforms, for our examples we will use MetaTrader 4 trading platform.
An entry sell limit order of this type can be used to sell above 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. ( price retraces up )
Entry orders are placed by traders when they expect xauusd price to pullback downward after reaching this zone.
- Entry Sell Limit Gold Ordersell at a level above the current market level.
What is Sell Limit XAUUSD Order Example?
In the xauusd trading examples illustrated and described 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 trading price retracement.
Sell Limit Gold Order Placed to Sell above the Current Market Gold Price
The xauusd trading price then rallied, went up to hit the sell entry limit, and afterwards xauusd trading price continued to move downwards in direction of the original Gold Trading downward trend.
Gold Price Hits Sell Limit XAUUSD Order - Order now Changes to a Sell order
When xauusd trading price got to the set sell limit pending order level the sell limit pending order changed into a sell order, this is therefore a good method to sell at a better xauusd price after a price retracement.
What's Buy Stop Gold Order?
What Does Buy Stop XAUUSD Order Mean?
A Buy Stop Gold Order is an order to buy gold after the xauusd trading price rises to the set buy stop xauusd trading price zone.
The buy stop order is always set to buy above existing market xauusd prices.
What is Buy Stop Gold Order Example?
In the examples described and shown below a buy stop order was placed to buy at a level above the current market xauusd trading price.
The xauusd trading price of the gold trading instrument then went up to hit the buy stop pending order, & afterward xauusd price continued to move upwards.
Setting Buy Stop Gold Order above Resistance Level - What's Buy Stop Gold Order?
Buy stop pending order is also used to set pending gold order when there's a consolidation pattern on a xauusd chart. Buy stop order is used to set a buy order just above the consolidation pattern as illustrated below so that if there is a xauusd trading price break out upward after the consolidation pattern then a new buy order is opened - by the buy stop order once the buy stop xauusd trading price set is reached.
Setting Buy Stop Gold Order in a Gold Trading Break out
A Buy trade was generated from the above buy stop order when the price broke a resistance area in the first examples and when there was an upwards xauusd price break-out after a market consolidation pattern on the second buy stop order example.
