Yes this is possible. If you're going short, a 'Limit Sell' order will be paired up with a 'Stop Buy' order, and vice versa if you're going long.
Thanks but that sounds like it won't work for my case. I am wanting to use a 'Stop Sell' order, to only open the short position when the price drops below a certain level.
As I understand it, wouldn't using a Limit Sell with a Stop Buy only work if I wanted to short at the current price?
ooo i misunderstood your question.. i do not believe you can stop-sell to open a short position when price move further down, although i am not entirely sure. let me know if u test it out.
And you definitely can't pre place a stop-loss on that order.