What is the Difference between Sell Limit Gold Order and Buy Stop Gold Order?
What is a Sell Limit XAUUSD Order?
A sell limit 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 upwards within a downward trend.
A sell limit is only executed when the prices moves upwards and 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 trading 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 trading 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 a Sell Limit XAUUSD Order Example?
In the xauusd trading example illustrated and explained below a the sell limit order was placed to sell at a xauusd trading price above the current market xauusd trading 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 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 trading 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 price retracement.
What is a 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 the existing market xauusd prices.
What is a Buy Stop Gold Order Example?
In the examples 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 order, and afterwards xauusd trading price continued to move upward.
Setting Buy Stop Gold Order above Resistance Level - What is a Buy Stop Gold Order?
The buy stop order is also used to set a pending gold order when there is a consolidation chart pattern on a xauusd chart. The Buy stop order is used to set a buy order just above the consolidation chart pattern as shown below so that if there is a xauusd trading price breakout upwards after the consolidation chart 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 Breakout
A Buy trade was generated from the above buy stop order when the price broke a resistance level in the first example and when there was an upward xauusd trading price breakout after a market consolidation chart pattern on the second buy stop order example.
