Buy Stop Order & Sell Stop
These are orders to buy above the current price or sell below the current price
Buy Stop BTCUSD Trading Order An order to open buy at a level above the current market price
Sell Stop BTCUSD Crypto Currency Order An order to sell at a level below current market price
Buy Stop Order & Sell Stop
These stop orders are used by Bitcoin traders who want to trade a setup like the consolidation chart pattern, but they do not want to wait all day watching the market prices of Bitcoin until there is a price break out. Hence, these BTCUSD Crypto Currency traders will use these orders to set pending orders above & below consolidating prices and a price break out in any of the direction will open one of these pending orders & a buy trade or a sell trade will then automatically be opened.
Buy Stop BTCUSD Crypto Currency Order
An example of a buy stop order is illustrated below.
In the example below a buy stop order was placed to buy at a level above the current price.
The price then headed upward to hit buy stop, & afterward price continued to move upwards.
Setting a Buy Stop Order above a Resistance Level - Bitcoin Trading
Setting a Buy Stop Order above a Price Consolidation - Bitcoin trading
A buy trade was generated from the above stop order setups, when price broke a resistance area in the first example and when there was an upward breakout of BTCUSD Crypto Currency prices after the price consolidation chart pattern in the second example.
Sell Stop Bitcoin Trade Order
An example of a sell stop order is illustrated below.
In the example a sell stop order was put to sell at a level below the prevailing market price.
The price then headed downward to hit sell stop, & afterward price continued to move downwards.
Setting a Sell Stop Order below a Resistance Level - Bitcoin Trading
Setting a Sell Stop Order below a Price Consolidation
A sell was generated from the above stop order trading setup, when price broke a support zone in the first example and when there was a downward breakout of Bitcoin prices after the price consolidation chart pattern in the second example.
How to Differentiate Between Pending Stop BTCUSD Trading Orders and Pending Limit Bitcoin Trade Orders
It is easier to first of all remember one trading concept. The easier trading concept is that of Stop Orders - stop orders are set above & below the market price.
Setting Buy and Sell Stop Orders on MT5
Open a Bitcoin Chart, "Right Click" on the Chart, Select "New Order", and then follow these steps below:
Step 1: Choose Pending order as illustrated below
Step 2: Select Pending Order Menu as Show below
Step 3: Select Buy Stop or Sell Stop
Step 4: Click "Place" Order
Steps to Setting Buy Stop or Sell Stop Orders on MT5
Study More Tutorials and Courses:
- BTCUSD Profit Calculator Example
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- What is the Difference between Sell Limit BTC USD Order & Buy Limit BTC USD Order?
- Best MetaTrader 4 BTCUSD Technical Indicators
- How to Read a BTC/USD Retracement on an Upwards BTC USD Trend
