ANSWER:
A pending order is an order placed on the system at a price that has not been reached yet.
There are four types of pending orders.
The Limits – a pending BUY LIMIT is a buy order placed at a price below the current price while a pending SELL LIMIT is a sell order placed at a price above the current price.
The Stops – a pending BUY STOP is a buy order placed at a price above the current price while a pending SELL STOP is a sell order placed at a price below the current price.
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