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Buy Stop Order and Sell Stop Order

These are orders to buy above the market price or sell below the market price

Buy Stop OrderAn order to buy at a level above the current market price

Sell Stop OrderAn order to sell at a level below the current market price

Buy Stop Gold Order and Sell Stop Gold Order - XAUUSD Trading Pending Orders - How to Open XAUUSD Trading Pending Orders

Buy Stop Order and Sell Stop Order

These stop orders are used by traders who want to trade a setup like the consolidation chart pattern, but they do not want to wait all day watching the prices of Gold until there is a price breakout. Therefore, these traders will use these orders to set pending orders above and below the consolidating prices and a price breakout in any of the direction will execute one of these pending orders and a buy trade or a sell trade will automatically be opened.

Buy Stop Order

An example of a buy stop order is shown below.

In the example a buy stop order was placed to buy at a level above the current market price.

The price then went up to hit the buy stop order, and afterwards price continued to move upwards.

Buy Stop Gold Trading Pending Order and Sell Stop Gold Trading Pending Order How to Open Gold Pending Orders

Setting a Buy Stop Order above a Resistance Level

Gold Trading Buy Stop Order and Gold Trading Sell Stop Order - XAUUSD Pending Orders - How to Set XAUUSD Pending Orders

Setting a Buy Stop Order above a Price Consolidation

A buy was generated from the above stop order setups, when price broke a resistance level in the first example and when there was an upward breakout of prices after the price consolidation chart pattern in the second example.

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Sell Stop Order

An example of a sell stop order is shown below.

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

The price then went down to hit the sell stop order, and afterwards price continued to move downwards.

Buy Stop Gold Trading Pending Orders and Sell Stop Gold Trading Pending Orders - How to Open XAUUSD Trading Pending Orders

Setting a Sell Stop Order below a Resistance Level

Buy Stop Gold Trading Orders and Sell Stop Gold Trading Orders - XAUUSD Orders - How to Open Gold Trading Pending Orders

Setting a Sell Stop Order below a Price Consolidation

A sell was generated from the above stop order setups, when price broke a support level in the first example and when there was a downward breakout of prices after the price consolidation chart pattern in the second example.

How to differentiate between stop orders and limit orders

It is easier to first of all remember one concept. The easier concept is that of Stop Orders - stop orders are set above and below the price.

Setting Buy and Sell Stop Orders on MetaTrader4 Platform

Open a Gold Trading Chart, Right Click on the Chart, Select New Order, and then follow the steps below:

Step 1: Select Pending order as shown belowStep 2: Select Pending Order Menu as Show belowStep 3: Select Buy Stop or Sell Stop Step 4: Click "Place" Order

Buy Stop Gold Trading Order and Sell Stop Gold Trading Order - XAUUSD Trading Orders - How to Open XAUUSD Pending Orders

Steps to Setting Buy Stop or Sell Stop Orders on MetaTrader 4 Platform

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