Types of Pending Order in XAUUSD
- Buy Limit Order Specifies to open buy at a level that's below the prevailing market price
- Sell Limit Order Specifies to open sell at a level that is above the prevailing market price
- Buy Stop Order Specifies to open buy at a level that's above the prevailing price.
- Sell Stop Order Specifies to open sell at a level that's below the prevailing price.
Limit Orders and Stop Orders
Pending Orders are orders which are used to open new trade transaction after the market reaches a price given by trader.
Pending Orders are used to buy or sell when price quote attains a certain price target.
When a specific price level is reached then a pending order is executed.
XAUUSD Pending Orders are used to enter a trade at a particular price level. It's almost impossible to monitor the market every second and this is why a pending order can be used. If you feel the market may take a certain action, such as break through a particular price level which it has been touching but it has not been able to break this level, then as a trader you would want to use a Pending Order. Once the prices quote crosses your given level, your pending order is executed.
There are two types of pending trading orders - xauusd limit order & xauusd stop order.
These pending orders also are known as gold entry orders.
Limit Order
An order to buy or sell at a particular limit.
An gold pending limit order can be used to open buy below the prevailing price quote or sell above the prevailing price quote.
When buying, xauusd pending limit order is executed when the price falls to your limit price quote level.
When selling, xauusd pending limit order is executed when the price rises to your limit price quote level.
These Trade Limit Orders are placed by traders when they expect the price to bounce back after reaching to the price quote level that the pending limit order was set.
- Buy Limit Order Specifies to open buy at a level that's below the prevailing price
- Sell Limit Order Specifies to open sell at a level that's above the prevailing price
How Do I Set Buy Limit Orders and Sell Limit Orders on MT4 - Pending Orders on MT4
XAUUSD Trade Stop Order
A xauusd pending stop order is an order to buy above current price or to open sell below the prevailing price.
When buying, a pending stop order is executed as the market goes upward and hits buy stop price quote level.
When selling, a pending stop order is executed as the price goes down and hits the sell stop price quote level.
- Buy Stop Order Specifies to open buy at a level that's above the prevailing price.
- Sell Stop Order Specifies to open sell at a level that's below the prevailing price.
How Do I Set Buy Stop Orders and Sell Stop Orders on MT4 - XAUUSD Pending Orders on MT4
