What is Difference between Sell Stop Gold Order & Buy Limit Gold Order?
What's Sell Stop XAUUSD Order?
What Does Sell Stop Gold Order Mean?
A Sell Stop Gold Order is an order to sell gold after the price rises to the set sell stop xauusd price level.
The sell stop order is always set to sell below the existing market xauusd prices.
What's Sell Stop XAUUSD Order Example?
In the examples explained and shown below a sell stop order was placed to sell at a level below current market xauusd price.
The xauusd price of the gold instrument then went down to hit the sell stop pending order, and afterward xauusd price continued to move downward.
Setting Sell Stop Gold Order below Resistance Level - What's Sell Stop Gold Order?
Sell stop pending 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 consolidation chart pattern as illustrated below so that if there is a xauusd 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 price set is reached.
Setting Sell Stop Gold Order in a Gold Break out
A Sell trade was generated from the above sell stop pending order when the price broke a support level in the first examples & when there was a downwards xauusd price break out after a market consolidation chart pattern on second sell stop order example.
What is Buy Limit Gold 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 & 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 pull-back to before resuming the original Gold trend.
Traders use buy limit orders to buy at better market price. These types of buy limit pending orders are provided for in most of the online trading platforms, for our examples we will use MetaTrader 4 trading 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 example illustrated & 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 upward in the direction of the original Gold upwards trend. When the limit buy order was hit it changed in to a buy order.
Gold Price Hits Buy Limit XAUUSD Order - Buy Limit Gold Orders Now Changes to a Buy Order
