How Do I Set Buy Stop Gold Order and Sell Stop Gold Order on MetaTrader 4?

How Do I Set Buy Stop XAUUSD Order and Sell Stop XAUUSD Order on MetaTrader 4?

Setting Buy & Sell Stop Gold Orders in MetaTrader 4 Platform

Open a gold trading Gold Trading Chart - Right-Click on Gold Chart, Select New Gold Order, then Follow the steps below:

Step1: Choose Pending order as illustrated below

Step2: Choose 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 and 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 and Sell Stop Gold Order in MT4

These pending gold orders are used by traders wanting to trade a set-up like consolidation chart pattern but they don't want to wait & watch the xauusd prices all day long until there is a xauusd price breakout. Therefore gold traders will set these pending gold orders above and below xauusd price & a break-out in any of these direction will execute one of these pending gold orders and a buy gold trade or a sell gold trade will automatically be opened.

Buy Stop Gold Order

In the examples explained and shown below a buy stop order was placed to buy at a level above 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 and Sell Stop Gold Order in MT4

Analyze & Set Buy Stop Gold Order and Sell Stop Gold Order in MT4?

A Buy trade was generated from the above pending gold order when price broke a resistance line in 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 down to hit the order, and afterward the downwards move continued

Analyze & Set Buy Stop Gold Order and Sell Stop Gold Order in MT4?

Analyze & Set Buy Stop Gold Order and Sell Stop Gold Order in 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 and Sell Stop Gold Order in MT4