How Do I Set Buy Stop Gold Order & Sell Stop Gold Order on MT5?
How Do I Set Buy Stop XAUUSD Order & Sell Stop XAUUSD Order in MetaTrader 5 Software Platform?
Setting Buy and Sell Stop XAUUSD Orders on MT5
Open a gold trading XAUUSD Trading Chart - Right-Click on Gold Chart, Select New Gold Order, then Follow the steps below:
Step1: Select Pending order as illustrated below
Step2: Select Pending order Menu as Show below
Step3: Select Buy Stop Gold Order or Sell Stop Gold Order
Step4: Click "Place" Order
Set Buy Stop Gold Order & Sell Stop Gold Order on MT5
Pending Gold Orders
These are pending gold orders to buy above the xauusd market or to sell below the xauusd market.
- Buy Stop Gold OrderAn order to buy at a level above the xauusd market xauusd price.
- Sell Stop Gold OrderAn order to sell at a level below the xauusd market xauusd price.
Set Buy Stop Gold Order & Sell Stop Gold Order on MT5
These pending gold 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 xauusd prices all day long until there's a xauusd price breakout. Therefore gold traders will set these pending gold orders above & below xauusd price & a break-out in any of these direction will execute one of these pending gold orders & a buy gold trade or a sell gold trade will automatically be opened.
Buy Stop XAUUSD Order
In the examples described and shown below a buy stop order was placed to buy at a level above the current market xauusd price.
The xauusd price then went up to hit the order, and afterward xauusd price continued to move upwards.
Set Buy Stop Gold Order & Sell Stop Gold Order on MT5
Analyze & Set Buy Stop Gold Order & Sell Stop Gold Order in MT5 Gold Trading?
A Buy trade was generated from the above pending gold order when the price broke a resistance line in the first example & when there was an upward break out after a gold market consolidation.
Sell Stop Gold Order
In the xauusd trading example illustrated and explained below a sell stop order was placed to sell at a level below the current market xauusd price.
The xauusd price then went downward to hit the order, & afterward the downwards move continued
Analyze & Set Buy Stop Gold Order & Sell Stop Gold Order in MT5 Gold Trading?
Analyze & Set Buy Stop Gold Order & Sell Stop Gold Order in MT5 Gold Trading?
A Sell trade was generated from the above pending sell stop pending order after support line is broken after a consolidation chart pattern.
Set Buy Stop Gold Order & Sell Stop Gold Order in MT5
