A Pending Order contains the maximum level at which a trader wishes to Buy or to Sell. Such an order is placed into 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 should the market reach a certain point, it will continue increasing, you will place a Buy Stop.