Forex Stop Orders Trading - How to Set Buy Stop Order and Sell Stop Order after a Consolidation Chart Pattern

These stop orders are orders to buy above the market or to sell below the market.

• Buy Stop Forex OrderAn order to buy at a level above the market price.

• Sell Stop FX OrderAn order to sell at a level below market price.

Buy Stop and Sell Stop - How to Set Buy Stop Order and Sell Stop Order after a Consolidation Chart Pattern

These stop orders are used by traders wanting to trade a set up like the consolidation chart pattern but they don't want to wait & watch the prices all day long until there is a forex price breakout.

Therefore, traders will set these pending stop orders above & below the current price and a price breakout in any of these direction will execute one of these stop orders and a buy trade or a sell trade will automatically be opened.