How Do I Set Buy Stop Gold Order & Sell Stop Gold Order in MetaTrader 4?

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

Setting Buy and Sell Stop Gold Orders in MT4 Platform

Open a gold trading Gold 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 MT4

Pending XAUUSD 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 MT4

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 Gold 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 MT4

Analyze & Set Buy Stop Gold Order & Sell Stop Gold Order on MT4?

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 XAUUSD 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 on MT4?

Analyze & Set Buy Stop Gold Order & Sell Stop Gold Order on MT4?

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 on MT4