GBP/USD Buy at market
GBP/USD chart
Levels
- Entry
- 1.33716 zone 1.33685 to 1.33747
- Stop loss
- 1.33244 47.2 pips from entry
- Target 1
- 1.34188 not reached
- Target 2
- 1.34660 not reached
- Target 3
- 1.35132 not reached
- Filled
- 1.33714 6 Nov, 17:01 UTC
One third of the trade closes at each target, and the stop moves to the entry after target 1.
Why this trade
This is a mechanical trade based on Larry Connors' RSI(2) strategy, which buys when the 4-hour RSI(2) drops below 10 (currently 1.4) while the price remains above the 200 SMA (1.33038). GBPUSD has suffered a steep intraday sell-off, dropping 121 pips to fall below the daily S3 pivot. However, it is now testing potential support at the daily 20 and 50 EMAs around 1.3364, making this a classic mean-reversion attempt. The setup is invalidated if price hits the mechanical 1.5 ATR stop loss at 1.33244, which would indicate that the sharp bearish momentum is continuing without a bounce.
ChartPrice structure on the chart: trend, levels, volatility.
About the strategy: RSI(2) pullback
RSI strategies are the third most starred family in our Pine library (179 scripts, 4,691 stars); this is Larry Connors' RSI(2). On 4-hour bars, buy at market when RSI 2 drops under 10 while price is above its 200 SMA, and sell when RSI 2 rises above 90 below the 200 SMA. Stop 1.5 ATR, targets 1R, 2R and 3R; the rest closes when price crosses back over the 5 SMA, or after 10 bars.
Caveat: Average per trade across the 11 instruments tested (7 FX majors, gold, silver, Bitcoin, Ether), costs included. Close to break-even before costs but slightly negative after them; positive on 1 of 11 instruments. Not tested on WTI or the Nasdaq 100.
The idea, explained: The RSI indicator
Timeline
- Entry filled 1.33714
- Signal published 1.33700
- Reason added
- Confidence scored Score 44
Proof it was not edited
When this signal was published, its fixed fields were written to a record and fingerprinted with SHA-256. The fingerprint also contains the one before it, so a change anywhere breaks the chain. You can check it in your browser.
- Hash
- 14f198366ca7e34df72f6a712276fcc758c3550dd1b7998f5f0942376b9b561a
- Previous hash
- a4d04c332d5334beed9eceeb2e8aaaaa7e6c1e81762b779c4ccda4dc81dd8e50
Show the signed record
{"v":2,"symbol":"GBPUSD","side":"buy","order_type":"market","timeframe":"4h","strategy":"pop_rsi2_4h","source":"data","oco_group":null,"entry":"1.33716","zone_lo":"1.33685","zone_hi":"1.33747","sl":"1.33244","tp1":"1.34188","tp2":"1.34660","tp3":"1.35132","created_at":"2026-11-06T17:01:02Z","expires_at":"2026-11-06T17:16:02Z","max_close_at":"2026-11-09T01:16:02Z","risk":"high","prev_hash":"a4d04c332d5334beed9eceeb2e8aaaaa7e6c1e81762b779c4ccda4dc81dd8e50"}
Risk High Risk
- Track record: flagged
Its rule was not profitable after costs in every period we tested.
- Type of trading: passed
Swing trade, not a scalping or news trade.
- News: passed
No high-impact release was due while the order waits or in its first 4 hours.
- Costs: passed
The spread is a small share of the stop distance (under 10%).
High Risk means at least one check flagged this trade. Size it smaller, or skip it if you only follow Cautious signals. The tag was set when the signal was published and is part of its signed record.
Copy the prices
Place it yourself in your own platform. This is a practice signal, not advice. How to copy a signal
- SymbolGBPUSD
- OrderBUY AT MARKET
- Entry1.33716
- Stop loss1.33244
- TP11.34188
- TP21.34660
- TP31.35132
This trade is already live. A new entry now would not match the published one.
Open in your platform
This trade is already live, so there is no order to place at the published entry. You can still follow it on your chart.
- Open the chart in TradingViewTradingView has no link that fills an order. Open the chart, then add the levels with the Pine Script below.
- Paste it into TradingView’s Pine Editor and click Add to chart: the entry zone, stop and three targets appear on your own chart.
Position size
lots
Lots = amount you risk, divided by the loss if the stop is hit. Contract sizes: forex pairs 100,000 units per lot, gold 100 oz, Bitcoin and Ether 1 coin, WTI crude 1,000 barrels, US100 1 per index point. Brokers differ, so check yours and adjust the contract size. Rounded down to 0.01. Position sizing explained
Confidence
The strategy has a historically poor profit factor of 0.96, and attempting to catch a falling knife after a 178% ATR drop is risky.
Signals scored 40-49 have won 49% of 47 closed.
Confidence is a score from 0 to 100 given by an AI model. It is checked against how signals in the same band really ended, so treat the measured rate as the evidence, not the score. Reading a track record