What is the Difference between Buy Limit Pending Gold Order & Buy Stop Pending Gold Order?
What's Buy Limit Pending XAUUSD Order?
A buy limit order is an order to buy a gold at a better price after gold price has retraced from its current level.
A buy limit pending order is an order to buy at a lower gold price than the current gold price
A buy limit is only executed when the prices falls and retraces to the set buy limit area.
Entry Limit Pending Gold Orders: Buy Entry Limit Pending
Buy Limit Pending XAUUSD Order definition - Entry limit is an order to buy a 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 buy limit orders to buy at better market price. These types of buy limit orders are available in most of the trading platforms, for our example we shall use the MetaTrader 4 trading platform.
An entry buy limit pending order of this type can be used to buy below the xauusd market level (retracement in an up xauusd trend market).
Buy limit - When buying, your entry buy limit is executed when the xauusd market falls to your set gold price. ( retraces down )
Entry orders are placed by traders when they expect gold price to bounce back after reaching this level.
- Entry Buy Limit Pending XAUUSD Orderbuy at a level below the current market price.
What's Buy Limit Pending XAUUSD 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.
Buy Limit Pending XAUUSD Order Placed to Buy Below the Current Market XAUUSD Price - What's Buy Limit Pending Gold Order?
The xauusd then retraced and went down to hit the buy entry limit, and afterwards gold price continued to move upward in the direction of the original XAUUSD upward trend. When the limit buy order was hit it changed in to a buy order.
XAUUSD Price Hits Buy Limit Pending Gold Order - Buy Limit Pending XAUUSD Orders Now Changes to a Buy Order
What is Buy Stop Pending Gold Order?
What Does Buy Stop Pending XAUUSD Order Mean?
A Buy Stop Pending XAUUSD Order is an order to buy a xauusd after the price rises to the set buy stop gold price level.
Buy stop pending order is always set to buy above existing market gold prices.
What's Buy Stop Pending Gold Order Example?
In the examples shown below a buy stop order was placed to buy at a level above current market gold price.
The gold price of the xauusd then went up to hit the buy stop order, & afterwards gold price continued to move upward.
Setting Buy Stop Pending XAUUSD Order above Resistance Level - What is Buy Stop Pending Gold Order?
The buy stop order is also used to set a pending xauusd order when there is a consolidation pattern on a xauusd chart. Buy stop order is used to set a buy order just above consolidation pattern as illustrated & shown below so that if there is a gold price break-out upwards after the consolidation pattern then a new buy order is opened - by the buy stop order once the buy stop gold price set is reached.
Setting Buy Stop Pending Gold Order in a XAUUSD Break-out - Buy Stop Pending XAUUSD Order Meaning and Example
A Buy trade was generated from the above buy stop order when price broke a resistance level in first examples & when there was an upward gold price break-out after a market consolidation pattern on second buy stop pending order example.
