On the other side, Sell Limit orders could be useful when you would like to take advantage of a resistance level that precedes a downward trend.
To set up a pending order in MetaTrader 4, follow the same steps to open a new order and select the Pending Order type, then you can choose the type of Pending Order with the price level that will act as a condition to trigger the order.
In addition, you can add an expiration date if you wish that the pending order is canceled after a certain period if the price condition is not fulfilled.
Once you are set, click the place button.