What is the Difference between Sell Limit Pending Gold Order & Sell Stop Pending Gold Order?
What's Sell Limit Pending Gold Order?
A sell limit pending order is an order to sell a gold at a better price after gold price has retraced upward from its current zone.
A sell limit order is an order to sell after the xauusd market retraces upwards within a downwards trend.
A sell limit is only executed when the prices moves upwards & retraces to the set sell limit zone.
What's Sell Limit Pending XAUUSD Order Example?
Sell Limit Pending XAUUSD Order definition - Entry sell limit is an order to sell a gold 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 sell limit orders to sell at better market price. These types of sell limit orders are provided for in most of trading softwares, for our example we shall use MT4 trading software.
An entry sell limit pending order of this type can be used to sell above xauusd market level (retracement pullback in a down xauusd trend Gold market).
Sell limit - When selling, your entry sell limit is executed when the xauusd market rises to your set gold trading price. ( price retraces up )
Entry orders are placed by traders when they expect gold price to pullback downwards after reaching this zone.
- Entry Sell Limit Pending XAUUSD Ordersell at a level above the current market price.
What's Sell Limit Pending Gold Order Example?
In the xauusd examples displayed below a the sell limit order was placed to sell at a gold price above the current market gold price. This is the level for the gold trading price retracement.
Sell Limit Pending XAUUSD Order Placed to Sell above the Current Market XAUUSD Price
The xauusd then rallied, went up to hit the sell entry limit, and afterwards gold trading price continued to move downward in the direction of the original Gold downwards trend.
XAUUSD Price Hits Sell Limit Pending Gold Order - Order now Changes to a Sell order
When gold trading price hit the set sell limit pending order level the sell limit pending order changed in to a sell order, this is therefore a good technique to sell at a better gold price after a price retracement.
What is a Sell Stop Pending XAUUSD Order?
What Does Sell Stop Pending Gold Order Mean?
A Sell Stop Pending XAUUSD Order is an order to sell a xauusd after the gold trading price rises to the set sell stop gold trading price zone.
The sell stop order is always set to sell below the existing market gold prices.
What is a Sell Stop Pending XAUUSD Order Example?
In the examples shown below a sell stop pending order was placed to sell at a level below the current market gold trading price.
The gold trading price of the xauusd then went down to hit the sell stop order, & afterward gold price continued to move in a downward direction.
Setting Sell Stop Pending XAUUSD Order below Resistance Level - What is a Sell Stop Pending Gold Order?
The sell stop pending order is also used to set pending xauusd order when there's a consolidation chart pattern on a xauusd chart. Sell stop order is used to set sell order just below the consolidation chart pattern as illustrated & shown below so that if there is a gold trading price breakout downward after the consolidation pattern then a new sell order is opened - by sell stop pending order once the sell stop gold trading price set is reached.
Setting Sell Stop Pending Gold Order in a XAUUSD Break-out - Sell Stop Pending XAUUSD Order Definition and Examples
A Sell trade was generated from the above sell stop pending order when price broke a support level in the first example & when there was a downward gold price breakout after a market consolidation pattern on the second sell stop pending order example.
