How to Place a Pending Gold Order in MT4
These are xauusd orders to buy above the xauusd market or to sell below the xauusd market.
- Buy Stop XAUUSD Order
An order to buy at a level above the gold price.
- Sell Stop XAUUSD Order
An order to sell at a level below the gold price.
Buy Entry and Sell Entry XAUUSD Orders
These xauusd orders are also known as pending xauusd orders. These pending xauusd orders are used by xauusd traders wanting to trade a setup like the consolidation xauusd chart pattern but they do not want to wait and watch the xauusd prices all day long until there is a xauusd price breakout. Therefore, xauusd traders will set these pending xauusd orders above and below the gold price and a xauusd price breakout in any of these direction will execute one of these pending xauusd orders and a buy xauusd trade or a sell xauusd trade will automatically be opened.
Buy Stop XAUUSD Order
In the xauusd examples below a buy stop xauusd order was placed to buy at a level above the current market gold price.
The gold price then went up to hit the buy stop xauusd order, and afterwards gold price continued to move upwards.
Setting Buy Stop XAUUSD Order above Resistance Level - How to Place a Pending XAUUSD Order Buy Stop Gold Order on MetaTrader 4
Setting Buy Stop Gold Order in a XAUUSD Trading Breakout - How to Place a Pending XAUUSD Order Buy Stop Gold Order on MetaTrader 4
A Buy xauusd trade was generated from the above order when the gold price broke a resistance line in the first example and when there was an upward gold price breakout after a market consolidation pattern.
Sell Stop XAUUSD Order
In the xauusd example shown below a sell stop xauusd order was placed to sell at a level below the current market gold price.
The gold price then went down to hit the sell stop xauusd order, and afterwards the downwards gold price move continued
Setting a Sell Stop XAUUSD Order Below a Support Level
Pending Sell Order Set in a XAUUSD Price Breakout
A Sell xauusd trade was generated from the above sell stop xauusd order after support line is broken after a consolidation xauusd chart pattern.
How to differentiate between stop xauusd orders and limit xauusd orders
It is easier to first of all remember one concept. The easier concept is that of Stop XAUUSD Orders are set above and below the xauusd price.
Setting Buy and Sell Stop Gold Orders on MetaTrader 4
Open a Trading Chart, Right Click on the xauusd Chart, Select New Order, then Follow the steps below
Step1: Select Pending order as shown below
Step2: Select Pending order Menu as Show below
Step3: Select Buy Stop XAUUSD Order or Sell Stop Gold Order
Step4: Click "Place" Order
Steps to Setting These Pending Gold Orders on MetaTrader 4 - How to Place a Pending Gold Order in MT4