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

How to Set Buy Stop Gold Orders & Sell Stop Gold Orders on MetaTrader 4

Setting Buy and Sell Stop Gold Orders in MetaTrader 4 Software

Open a xauusd trading XAUUSD Chart - Right Click on the XAUUSD Chart, Select New Order, then Follow the steps below:

Step1: Select Pending order as illustrated & 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 Pending Gold Orders on MetaTrader 4

Pending Gold Orders

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

• Buy Stop XAUUSD OrderAn order to buy at a level above the gold price.

• Sell Stop Gold OrderAn order to sell at a level below the gold price.

Buy Entry & Sell Entry Gold Order - XAUUSD Pending Orders

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

Buy Stop XAUUSD Order

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

The gold price then went up to hit the order, & afterwards gold price continued to move upward.

Setting Buy Stop XAUUSD Order above Resistance Level - Buy Stop XAUUSD Order Pending Order

Setting Buy Stop Gold Order in a XAUUSD Breakout - Buy Stop XAUUSD Order Pending Order

A Buy trade was generated from the above pending xauusd order when the price broke a resistance line in the first example and when there was an upward break-out after a xauusd market consolidation.

Sell Stop Gold Order

In the xauusd example shown below a sell stop order was placed to sell at a level below the current market gold price.

The gold price then went downwards to hit the order, & afterwards the downward move continued

Setting a Sell Stop XAUUSD Order Below a Support Level - Sell Stop XAUUSD Order Pending Order

Pending Sell Order Set in a XAUUSD Price Break-out - Sell Stop XAUUSD Order Pending Order

A Sell trade was generated from the above pending sell stop pending order after support line is broken after a consolidation pattern.