A pending order in forex trading is a type of order that allows traders to set a specific price at which they want to buy or sell a currency pair in the future, rather than executing immediately at the current market price. There are several types of pending orders, including limit orders (to buy or sell at a specified price or better) and stop orders (to buy or sell once the market reaches a certain price). This strategy helps traders take advantage of anticipated price movements and manage their entries and exits more effectively.