Buy Stop Order & Sell Stop
These are orders to buy above the current price or sell below the current price
Buy Stop Bitcoin Trading Order An order to open buy at a point above the current market price
Sell Stop BTCUSD Order An order to open sell at a point below current market price
Buy Stop Order & Sell Stop
These stop orders are used by Bitcoin traders who want to trade a setup like the consolidation chart pattern, but they do not want to wait all day watching the market prices of Bitcoin until there is a price break out. Hence, these BTCUSD Crypto traders will use these orders to set pending orders above & below consolidating prices and a price break out in any of the direction will open one of these pending orders & a buy trade or a sell trade then will automatically be opened.
Buy Stop BTC USD Order
An example illustration of a buy stop order is shown below.
In the illustration below a buy stop order was placed to open buy at a price point above the ruling price.
The price then headed upward to hit buy stop, & afterwards the price continued to move upwards.
Setting a Buy Stop Order above a Resistance Level - Bitcoin Trading
Setting a Buy Stop Order above a Price Consolidation - Bitcoin trading
A buy trade was generated from the above stop order setups, when price broke a resistance area in the first example and when there was an upward breakout of BTC USD ==22==CryptoCryptoCurrency prices after the price consolidation chart pattern in the second example.
Sell Stop Bitcoin Trade Order
An example illustration of a sell stop order is shown below.
In the example illustration a sell stop order was placed to open sell at a price point below the prevailing market price.
The price then headed downward to hit sell stop, & afterwards the price continued to move downwards.
Setting a Sell Stop Order below a Resistance Level - Bitcoin Trading
Setting a Sell Stop Order below a Price Consolidation
A sell signal was generated from the above pending stop order trading setup, when price broke a support zone in the first example and when there was a downward breakout of Bitcoin prices after the price consolidation chart pattern in the second example.
How to Differentiate Between Pending Stop BTCUSD Trading Orders and Pending Limit Bitcoin Trade Orders
It is easier to first of all remember one concept. The easier trading concept is that of Stop Orders - stop orders are set above & below the market price.
Setting Buy and Sell Stop Orders in the MT5
Open a Bitcoin Chart, "Right Click" on the Chart, Select "New Order", and then follow these steps outlined below:
Step 1: Choose Pending order as illustrated below
Step 2: Select Pending Order Menu as Show below
Step 3: Select Buy Stop or Sell Stop
Step 4: Click "Place" Order
Steps to Setting Buy Stop or Sell Stop Orders in MT5 Software Platform
Study More Tutorials and Courses:
- BTCUSD Profit Calculator Example
- MACD BTC/USD ==22==Technical Indicator Analysis MACD BTC/USD ==22==Technical Indicator
- Sell Stop Trading Order Described with Examples
- What is the Difference between Sell Limit BTC USD Order & Buy Limit BTC USD Order?
- Best MT4 BTCUSD Technical Indicators
- How to Read and Interpret a BTC/USD Retracement on an Upwards BTC USD Trend
