Buy Stop Order & Sell Stop Order

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 Bitcoin Order An order to sell at a level below current market price

Buy Stop Order & Sell Stop Order

These stop orders are used by Bitcoin traders who want to trade a setup like the consolidation trading chart pattern, but they do not want to wait all day watching the prices of Bitcoin until there is a price breakout. Therefore, these Bitcoin 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 Order

An example of a buy stop order is shown below.

In the example below a buy stop order was placed to buy at a level above the current price.

The price then went up to hit the buy stop order, & 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 level in the first example & when there was an upward breakout of Bitcoin prices after the price consolidation chart pattern in the second example.

Sell Stop Bitcoin Trade Order

An example of a sell stop order is shown below.

In the example a sell stop order was put to sell at a level below the current market price.

The price then went down to hit the sell stop order, & afterward price continued to move downward.

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 level in the first example & 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 price.

Setting Buy & Sell Stop Orders on MetaTrader 5

Open a Bitcoin Chart, "Right Click" on the Chart, Select "New Order", and then follow these steps below:

Step 1: Select Pending order as shown 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 MetaTrader 5