XAUUSD Trading Set Buy Limit Gold Order & Sell Limit Gold Order in MT4

Trading XAUUSD Set Buy Limit Gold Order & Sell Limit Gold Order on MetaTrader 4

Setting Buy and Sell Limit Gold Orders in MetaTrader 4 Software

To set up these pending xauusd orders in MT4 platform, Right click on XAUUSD Trading chart>>> Select 'Trading">>> Then Select "New'>>> Then on popup window that appears (illustrated and shown below), under 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 choose either "Buy Limit XAUUSD Order" or "Sell Limit XAUUSD Order" depending on whether you want to place a pending buy or sell order.

Gold Pending Orders - Setting Buy & Sell Limit Gold Orders on MetaTrader 4

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 pullback to before resuming the original XAUUSD trend. Traders use them to buy or sell at better market price. These types of pending orders are available in most online xauusd trading softwares, for our example we shall use the MetaTrader 4 trading software.

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 downwards )

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

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. Chart Point B is the point at which it was set.

XAUUSD Trading Set Buy Limit Gold Order & Sell Limit Gold Order on MetaTrader 4

The xauusd trend then retraced & went down to hit the buy entry limit, & afterwards gold price continued to move upward 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 & Sell Limit Gold Order on MetaTrader 4

Sell Limit XAUUSD Order Example

In the sell limit pending order example illustrated and 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 & Sell Limit Gold Order on MetaTrader 4?

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

Set Buy Limit Gold Order & Sell Limit Gold Order on MetaTrader 4?

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.

Analyze & Set Buy Limit Gold Order & Sell Limit Gold Order on MetaTrader 4