Entry Limit Silver Trading Orders: Buy Entry Limit and Sell Entry Limit

Limit order definition - Entry limit is an order to buy or sell a Silver at a certain xagusd trading price which is a retracement level where xagusd price is predicted to pull back to before resuming the original Silver trend. Silver traders use them to buy or sell at better market xagusd trading price. These types of orders are available in most online trading softwares, for our example we will use MetaTrader 4 xagusd trading platform.

An entry of this type can be used to buy below the xagusd trading market level (up silver trend market retracement) or sell above xagusd trading market level (down silver trend silver market retracement).

Buy limit - When buying, your entry buy limit is executed when the xagusd trading market falls to your set xagusd trading price. ( price retraces down )

Sell limit - When selling, your entry sell limit is executed when xagusd trading market rises to your set xagusd price. ( price retraces up )

Entry orders are placed by silver traders when they expect xagusd trading price to bounce back after reaching this zone.

• Entry Buy Limit Silver Orderbuy at a level below the current market price.

• Entry Sell Limit Silver Ordersell at a level above the current market price.

Buy Entry Limit Example

In the xagusd trading example explained and shown below, the buy limit silver order was placed to buy at a xagusd trading price below the current market xagusd price. Point B is point at which it was set.

Limit buy order entry placed to buy below the current market xagusd trading price

The xagusd trading price then retraced & went down to hit the buy entry limit, & afterwards xagusd trading price continued to move upward in direction of the original Silver upward silver trend. When limit buy order was hit it changed in to a buy.

Silver Price hits buy limit, order now changes to a buy

Sell Entry Limit XAGUSD Trading Order

In the xagusd trading example explained and shown below a the sell entry limit was placed to sell at a xagusd price above the current market xagusd price. This is the level for the xagusd trading price retracement.

Entry limit sell order placed to sell above current market xagusd trading price

The xagusd trading price then rallied, went up to hit the sell entry limit, & afterwards xagusd trading price continued to move downward in direction of the original XAGUSD downward trend.

Silver Price hits sell limit, order now changes to a sell

When silver trading quote hit the set level the order changed in to a sell, this is therefore a nice method to buy or sell at a better xagusd price after a price retracement.

Setting Buy & Sell Limit XAGUSD Trading Orders on MT4 Platform

To set up these silver orders in MetaTrader 4 platform, Right-click on Silver chart>>> Choose "Trading">>> Then Choose "New">>> Then on the popup window panel that pops up (shown below), under label "Type" choose the option of "pending" instead of "market execution">>> Under the pending xagusd trading order options select the pending silver order type: For This trade select either "Buy Limit Silver Order" or "Sell Limit Silver Trading Order" depending on whether you want to place a pending buy or sell.

Setting Buy and Sell Limit Silver Trading Orders in MT4

Sometimes, setting the point value to place your trade can be tricky, setting to far might mean your entry market limit not getting executed, the best tool to use is Fibonacci retracement indicator and use the 38.2 % retracement levels. This retracement level is watched by many silver traders and entry orders tend to crowd at this level, therefore the best odds to catch a trade would be presented by using the 38.2% Fibonacci retracement level.

Fibonacci Retracement Tutorial - Silver Trading Fibonacci Retracement Guide

Tip: In Silver online trading, If you want to set a good take profit level (not retracement level, take profit level) for your trades you can use the Fibonacci expansion 100% level for the best take profit area. To Read more on Silver Fibo Retracement & Fibo expansion use the right navigation menu section Technical Analysis.

Silver Trading Fibonacci Expansion Tool Tutorial - Silver Fibo Expansion Tool Guide