An entry order is one that is used to enter a trade at a specified price level. If the currency pair never reaches that price level then the entry order is not executed.
There are three types of entry orders:
A market order allows the trader to buy or sell at the best current price.
A Limit Order -> limit order is an order to buy at a market below the current market price or to sell at a market above the current price if the order price is reached. This is used when the trader thinks that the price action will reverse upon hitting that specified price level.
A Stop order -> stop order is an order to buy at a market above the current market price or to sell at a market below the current price if the order price is reached. This is used when the trader thinks that the price action will continue upon reaching that specified price level.
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