XAUUSD Trading Set Buy Limit Gold Order and Sell Limit Gold Order on MetaTrader 5

Trading XAUUSD Set Buy Limit Gold Order and Sell Limit Gold Order on MetaTrader 5 Software Platform

Setting Buy and Sell Limit Gold Orders on MetaTrader 5

To set up these pending xauusd orders in MT5 platform, Right click on XAUUSD Trading chart>>> Select 'Trading'>>> Then Select 'New'>>> Then on the popup window that appears (illustrated & shown below), under the label 'Type' select option of 'pending' instead of 'market execution'>>> Under the pending xauusd order options select the pending xauusd order type: for This trade select either "Buy Limit XAUUSD Order" or "Sell Limit XAUUSD Order" depending on whether you want to set a pending buy or sell order.

Gold Pending Orders - Setting Buy & Sell Limit Gold Orders in MT5

Limit order definition - Pending limit gold order is an order to buy or sell xauusd at a certain gold price which is a retracement level where gold price is predicted to pull-back to before resuming the original XAUUSD trend. Traders use them to buy or sell at better market price. These types of pending orders are provided for in most online xauusd trading platforms, for our example we will use MetaTrader 5 platform.

An entry pending xauusd order of this type can be used to buy below the xauusd market level (up xauusd trend market retracement) or sell above xauusd market level (downwards xauusd market trend retracement).

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

Sell limit Order - When selling, your entry sell limit is executed when the xauusd market rises to your set gold price. ( retraces up )

Pending xauusd orders are placed by traders when they expect gold price to bounce back after reaching this level.

• Pending Buy Limit XAUUSD Orderbuy at a level below the current market price.

• Pending Sell Limit XAUUSD Ordersell at a level above the current market price.

Buy Limit Gold Order Example

In the xauusd example shown below, the buy limit order was placed to buy at a gold price below the current market gold price. Point Marked B is the point at which it was set.

XAUUSD Trading Set Buy Limit Gold Order and Sell Limit Gold Order in MT5

The xauusd trend then retraced & went down to hit buy entry limit, & afterwards gold price continued to move upwards in the direction of the original XAUUSD upward trend. When limit buy order was hit it changed in to a buy.

XAUUSD Trading Set Buy Limit Gold Order and Sell Limit Gold Order in MT5

Sell Limit XAUUSD Order Example

In the sell limit pending order example illustrated & shown below a the sell entry limit was placed to sell at a gold price above the current market gold price. This is the level for the gold price retracement.

Set Buy Limit Gold Order and Sell Limit Gold Order on XAUUSD MT5 Trading Software?

The xauusd trend then rallied, went up to hit sell entry limit, & afterwards gold price continued to move downwards in the direction of the original XAUUSD Trading downwards trend.

Set Buy Limit Gold Order and Sell Limit Gold Order on XAUUSD MT5 Trading Software?

When xauusd quote hit the set level the order changed to a sell, this is therefore a nice technique to buy or sell at a better gold price after a retracement.

Interpret & Set Buy Limit Gold Order and Sell Limit Gold Order in MetaTrader 5