How Do I Interpret Forex Pending Orders?

How Do You Trade Forex Pending Orders?

The pending orders are grouped into Pending Stop Orders and Pending Limit Forex Orders

Pending Stop Orders - What is Buy Stop Order & Sell Stop Order? - Pending Orders?

Pending Limit Forex Orders - What's Buy Limit Forex Order and Sell Limit Order? - Pending Orders?

What's Buy Stop Order and Sell Stop Order?

Buy stop orders and Sell stop orders are orders used to buy above or below current market forex price.

These forex orders are popularly used to trade when there is a consolidation chart pattern - placing a buy stop order to buy above the consolidation chart pattern and placing a sell stop order to sell below the consolidation pattern setup.

Buy Stop Order & Sell Stop Order after a Consolidation Setup

These stop orders are orders to buy above the market or to sell below the market.

Buy Stop An order to open a buy trade at a point which is above the current market forex price.

Sell Stop An order to open a sell at a point which is below the current market forex price.

How Do You Read Pending Orders? - How to Interpret/Analyze Forex Pending Orders - Pending Orders Examples Explained

What's Buy Stop Order & Sell Stop?

These buy stop orders & sell stop orders are used by the traders who want to trade a setup like the consolidation chart pattern but they don't want to wait & watch the forex prices all day long til there's a forex price breakout.

Therefore, traders will place these pending buy stop orders & sell stop orders above & below the current forex price and a forex price break out in any of these directions will open one of these pending stop orders and a buy trade or a sell trade will automatically be executed and opened.

Setting Buy and Sell Stop Orders in MT4

Open a Forex Trading Chart, Right Click on a Chart, Choose New Forex Order, then follow rules below

Step1: Choose and Select Pending order as shown & described below

Step2: Choose Pending forex order Menu as Shown on the forex example below

Step3: Select Buy Stop Order or Sell Stop Order pending order

Step4: Click 'Place' Order & specify the buy stop price or sell stop price

How Do You Trade Pending Orders? - How Do You Analyze Pending Orders? - Pending Orders PDF

Setting Buy Stop Orders and Sell Stop Orders on the MT4

What is Buy Limit Forex Order and Sell Limit Order?

Limit order definition - Entry limit is an order to buy/sell a forex instrument at a certain forex price which is a pull back area where forex price is predicted to pull-back to before it resumes the original trend. Traders use them to buy/sell at better market price. These types of trading orders are available in most of online softwares, for our example we shall be using the MT4 fx software.

An entry of this type can be used to open a buy trade below the market level (upward trend market retracement) or sell above market level (down ward trend market retracement).

Buy limit - When buying, your entry buy limit order is opened/executed when market falls to your set forex price. (retraces downwards)

Sell limit - When selling, your entry sell limit order is opened/executed when market rises to your set fx price. ( retraces upward )

Entry orders are set by traders when they expect forex price to bounce back after reaching this level.

Entry Buy Limitbuy at a point below current market level.

Entry Sell Limit FX Ordersell at a price point above current market level.

Buy Limit Forex Order Example

In the currency example set-out below, the buy limit was set to open buy at forex price below current market forex price. Point B is point where it was set.

How Do I Trade Pending Orders? - How Do You Analyze/Interpret Forex Pending Orders? - Pending Forex Orders PDF

Trading Pending Orders

Sell Limit Forex Order Example

In the forex example below a the sell entry limit forex order was placed to sell at a forex price above the ruling market forex price. This is the level for the forex price pullback.

How to Read Pending Orders - Pending Orders Explained

Trading Pending Orders

When forex instrument forex price quote hit the set level the forex order changed to a sell, this is therefore a good method to buy or sell at a better forex price after a pull back.

Setting Buy & Sell Limit Forex Orders on MT4

To set up these Forex orders in MT4 software, Right Click in Forex chart>>> Select "Trading'>>> Then Choose 'New" Order>>> Then on the popup panel that appears (shown below), under label 'Type' select the option/choice of the "Pending" order instead of the 'market execution'>>> Under the forex pending order options select the forex pending order type: for This trade select either "Buy Limit Forex Order" pending forex order or "Sell Limit FX Order" pending forex order depending on whether you want to place a pending buy or sell order.

How to Interpret/Analyze Forex Pending Orders - Pending Orders Meaning