How Do You Analyze 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 & 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 buy at a level which is above the current market forex price.

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

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

What's Buy Stop Order & Sell Stop?

These buy stop orders and sell stop orders are used by traders wanting 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 and sell stop orders above & below the current forex price and a forex price break out in any of these direction will open one of these pending stop orders and a buy trade or a sell trade will automatically be executed and opened.

Setting Buy & Sell Stop Orders on MT4

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

Step1: Choose Pending order as illustrated & 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 and specify the buy stop price or sell stop price

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

Placing Buy Stop Orders and Sell Stop Orders in 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 pullback 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 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 buy below the market level (upward trend market pull back) or sell above market level (down ward trend market pull back).

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

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

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

Entry Buy Limitbuy at a level below current market level.

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

Buy Limit Forex Order Example

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

How Do I Trade Pending Orders? - How Do I Analyze 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 MetaTrader 4 platform, RightClick on Forex chart>>> Select "Trading'>>> Then Choose 'New" Order>>> Then on the popup window that appears (shown below), under label 'Type' select the option of "Pending" order instead of '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 Forex Pending Orders - Pending Orders Meaning