What's Trailing Stop Loss Gold Order in XAUUSD?

A trailing stoploss is a stop loss levels that keeps adjusting itself automatically by a set number of pips once the xauusd market moves in direction of the trader's open trade position by a number of pips.

For examples the trailing stop can be set at 30 pips & set to adjust itself to 30 pips automatically once the xauusd moves up by 5 or 10 pips. This means that this trailing stoploss order will keep trailing the gold trading price as long as the price keeps moving in the direction of the trader's open position.

This trailing stoploss will close the order once the xauusd market starts to retrace & it retraces to the level of the most recent set trailing stop loss level.

A good indicator used to set trailing stoploss levels is the Parabolic SAR +technical indicator:

Parabolic SAR Indicator

Parabolic SAR is used by traders to set trailing gold trading price stop loss regions

The Parabolic SAR provides good exit points that keep trailing the gold trading price on a gold chart.

In an upwards xauusd trend, you should close long trade positions when the price drops below the parabolic SAR Indicator

In a downward xauusd trend, you should close short trades when the price rises above the parabolic SAR.

If you are trading long then the gold trading price is above parabolic SAR, the parabolic SAR will move up every day, regardless of the direction in which the gold trading price is moving. The amount the parabolic SAR moves up depends on the amount that gold trading prices moves. Once gold trading price moves below parabolic SAR as illustrated and shown on the xauusd example shown below, then traders should close their open buy gold trades at trailing stop level provided by the Parabolic SAR +technical indicator.

Parabolic SAR - Gold Technical Indicator for Setting Trailing Stop Loss XAUUSD Order Levels