How Do I Set Buy Limit Gold Order & Sell Limit Gold Order on MetaTrader 4?

How Do I Set Buy Limit XAUUSD Order & Sell Limit XAUUSD Order on MT4?

Setting Buy & Sell Limit XAUUSD Orders in MT4 Platform

To set up these pending gold orders in MetaTrader 4 platform, Right-click on Gold chart>>> Choose 'Trading'>>> Then Choose 'New'>>> Then on the popup panel that appears (illustrated below), under label 'Type' choose the option of 'pending' instead of 'market execution'>>> Under the pending xauusd order options select the pending gold order type: for This trade choose either "Buy Limit Gold Order" or "Sell Limit Gold Order" depending on whether you want to set a pending buy or sell order.

Pending Gold Orders - Setting Buy and Sell Limit Gold Orders on MT4

Limit order definition - Pending limit gold order is an order to buy or sell a xauusd at a certain xauusd price which is a retracement level where xauusd price is predicted to pull-back to before resuming the original Gold trend. Traders use them to buy or sell at better market price. These types of pending orders are provided for in most online gold platforms, for our example we will use the MetaTrader 4 platform.

An entry pending gold order of this type can be used to buy below the xauusd market level (up gold trend market retracement) or sell above xauusd market level (downward gold trend market retracement).

Buy limit Order - When buying, your entry buy limit is executed when the xauusd market falls to your set xauusd price. ( retraces downward )

Sell limit Order - When selling, your entry sell limit is executed when the xauusd market rises to your set xauusd price. ( retraces upward )

Pending gold orders are placed by traders when they expect xauusd price to bounce back after reaching this level.

• Pending Buy Limit Gold Orderbuy at a level below the current market level.

• Pending Sell Limit Gold Ordersell at a level above the current market level.

Buy Limit Gold Order Example

In the xauusd example illustrated & explained below, the buy limit order was placed to buy at a xauusd price below the current market xauusd price. Chart Point B is the point at which it was set.

Set Buy Limit Gold Order & Sell Limit Gold Order on MT4

The gold trend then retraced and went down to hit the buy entry limit, & afterwards xauusd price continued to move upward in the direction of the original Gold upward xauusd trend. When the limit buy order was hit it changed in to a buy.

Set Buy Limit Gold Order & Sell Limit Gold Order on MT4

Sell Limit XAUUSD Order Example

In the sell limit pending order example illustrated and explained below a the sell entry limit was placed to sell at a xauusd price above the current market xauusd price. This is the level for the xauusd price retracement.

Interpret and Set Buy Limit Gold Order & Sell Limit Gold Order on MT4?

The gold trend then rallied, went up to hit the sell entry limit, and afterwards xauusd price continued to move downwards in the direction of the original XAUUSD downwards trend.

Interpret and Set Buy Limit Gold Order & Sell Limit Gold Order on MT4?

When xauusd price quote got to the set level the order changed into a sell, this is therefore a nice method to buy or sell at a better xauusd price after a retracement.

Set Buy Limit Gold Order & Sell Limit Gold Order on MT4