Pending Orders in Forex Trading The concept of pending orders can seem somewhat complicated to new traders. The way they are used or why they are used at all is not that obvious compared to the standard trading orders. Pending Limit Order Limit Orders are the opposite of the stop order. A buy limit order is placed below the current price, while the sell limit order is placed above the current price. The trader expects that the price will lower to the buy limit level, or rise to the sell limit level, trigger the order, then reverse direction for profit. Look for best areas where price would eventually breakout, test, or reverse, and give careful space above or below those areas and set the pending order at that location. For example if i anticipate that price would reverse upwards after falling down to a certain price level, i would set a Buy Stop Order 5 or 10 pips above the forcasted price level area where price would likely reverse. The new MT4 Build 509 and MT5 has a One-Click-Order feature, where you can right click on any area of your chart to instantly set pending orders easily. Resistance and support lines are very good tools that aids setting accurate pending orders. Price tends to rebound or reverse around support and resistance areas. You can take advantage of this by identifying those areas through the use of resistance and support lines. ![]() What Is Pending OrderAfter drawing the line, set your pending orders right at the location of the line. For example if price is likely to bounce off a support line, and move upwards, i would set a Buy Limit Order at the support line in anticipation that price would go up after falling to that level on the support line. For a resistance case (i.e price is hitting a particular level and not going further but rather reversing), I would use a Sell Stop Order to take advantage of it. This means i am anticipating that price would go down after climbing up and reaching the resistance price level or line. The take profit should be set close to the oppposite resistance or support price level. You can also use Pivot Point Indicators or Fibonnaci to determine the Take Profit and Stop Loss Levels. A personalized For You section offers recommendations based on your viewing too. Fox fx american horror story.
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