This has always worked for me (unless if news causes no action) but NFP and FOMC is always good.
10 minutes before the news do this:
1) Place a buy stop 12 pips above current price.
2) Place a sell stop 12 pips below current price.
3) Make buy stop's SL the same as sell stop entry price.
4) Make sell stop's SL the same as buy stop entry price.
So if it bounce up and triggers the buy and then down it will cancel buy and sell. I've always profit from it this way, for me the the situation above has never occurred, because of total of 24 pip difference between the buy and sell.
Up to you to put a TP, 30 pips should do, but often 50 is possible, else a trailing stop could also be a good idea.
10 minutes before the news do this:
1) Place a buy stop 12 pips above current price.
2) Place a sell stop 12 pips below current price.
3) Make buy stop's SL the same as sell stop entry price.
4) Make sell stop's SL the same as buy stop entry price.
So if it bounce up and triggers the buy and then down it will cancel buy and sell. I've always profit from it this way, for me the the situation above has never occurred, because of total of 24 pip difference between the buy and sell.
Up to you to put a TP, 30 pips should do, but often 50 is possible, else a trailing stop could also be a good idea.