What's the Difference between Sell Limit Gold Order & Sell 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 Sell Stop Gold Order?
What Does Sell Stop XAUUSD Order Mean?
A Sell Stop Gold Order is an order to sell gold after the xauusd trading price rises to the set sell stop xauusd trading price zone.
The sell stop order is always set to sell below the existing market xauusd prices.
What's Sell Stop Gold Order Example?
In the example explained and shown below a sell stop order was placed to sell at a level below the current market xauusd trading price.
The xauusd trading price of the gold trading instrument then went down to hit the sell stop pending order, & afterward xauusd price continued to move in a downward direction.
Setting Sell Stop Gold Order below Resistance Level - What's Sell Stop Gold Order?
The sell stop order is also used to set a pending gold order when there's a consolidation pattern on a xauusd chart. The Sell stop order is used to set a sell order just below the consolidation pattern as illustrated below so that if there is a xauusd trading price break out downward after the consolidation pattern then a new sell order is opened - by the sell stop pending order once the sell stop xauusd trading price set is reached.
Setting Sell Stop Gold Order in a Gold Trading Break out
A Sell trade was generated from the above sell stop pending order when the price broke a support level in the first example and when there was a downward xauusd price break-out after a market consolidation pattern on the second sell stop order example.
