What is the Difference between Sell Stop Gold Order and Buy Limit Gold Order?
What is a 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 is a Sell Stop XAUUSD Order Example?
In the examples below a sell stop order was placed to sell at a level below the current market xauusd price.
The xauusd price of the gold trading instrument then went down to hit the sell stop order, and afterwards xauusd price continued to move downwards.
Setting Sell Stop Gold Order below Resistance Level - What is a Sell Stop Gold Order?
The sell stop order is also used to set a pending gold order when there is a consolidation chart pattern on a xauusd chart. The Sell stop order is used to set a sell order just below the consolidation chart pattern as shown below so that if there is a xauusd price breakout downwards after the consolidation chart pattern then a new sell order is opened - by the sell stop order once the sell stop xauusd price set is reached.
Setting Sell Stop Gold Order in a Gold Trading Breakout
A Sell trade was generated from the above sell stop order when the price broke a support level in the first example and when there was a downward xauusd price breakout after a market consolidation chart pattern on the second sell stop order example.
What is a 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 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
