XAUUSD Set Buy Stop Order & Sell Stop Order on MetaTrader 5

Trading Set Buy Stop Order & Sell Stop Order on MetaTrader 5 Platform

Setting Buy & Sell Stop Orders on MetaTrader 5

Open a trading Gold Chart - RightClick on Chart, Choose New Order, then follow guidelines below:

Step1: Choose Pending market order as shown and portrayed below

Step2: Choose Pending order Menu as Show below

Step3: Choose Buy Stop Order or Sell Stop Order

Step 4: Click the 'Open' Order

How to Use Sell Stop Order on MetaTrader 5 Platform

Gold Set Buy Stop Order & Sell Stop Order on MT5

Pending Orders

These are pending trading orders to buy above the market or to sell below the market.

Buy Stop Order An order to buy at a point above the price.

Sell Stop Order An order to open sell at a point below the price.

How to Analyze Difference between Sell Stop Trade Order & Buy Stop Order

Gold Set Buy Stop Order & Sell Stop Order on MT5

These pending orders are used by traders wanting to trade a set up like the consolidation chart pattern but they don't want to wait & watch the prices all day long until there a price breakout. Hence traders will set these pending orders above & below price and a break out in any of these direction will open one of these pending orders and a buy trade or a sell xauusd trade will automatically be opened.

Buy Stop Order

In the examples illustrated below a buy stop order was placed to buy at a level above the current market price.

The price then moved upwards to hit order, and afterwards price continued to move upwards.

How Do You Trade & Set Buy Stop Order & Sell Stop Order in MT5? - Buy Stop Orders Examples in Charts

XAUUSD Set Buy Stop Order and Sell Stop Order in MT5

How to Analyze a Buy Stop Order & Sell Stop Order

Set Buy Stop Order and Sell Stop Order in MT5 XAUUSD?

A Buy trade was generated from above pending order when price broke a resistance line in first example & when there was an upward breakout after a market consolidation.