A Pending Order contains the maximum level at which a trader wishes to Buy or to Sell.
Such an order is placed on the market provided that the future Buy or Sell price will be equal to the predefined price.
Pending orders can be Stop or Limit orders: Buy Stop, Buy Limit, Sell Stop or Sell Limit.
For example, if you believe that if the market will reach a certain point it will continue increasing, you will place a Buy Stop.