That is a dodgy question and a million dollar one.
1st and foremost you must understand that DURING high impact news release, high volatility are to be expected. What we don’t want is getting whipsawed by a knee jerk reaction, so we wait and observe the so called " price action " .
Let me give an example, we all know that GBP is seemingly forever weak due to unresolve brexit drama. That is not to say we just straddle a bearish trade indefinitely. We do have to pair it with other major currencies to trade. Say we pair it off with USD, and PREVIOUSLY a piece of positive expectation bullish high impact news push GBPUSD price southward, further assuming that there is no other high impact news release until the next 2 market session. Well, if the 1st hour candlestick during the high impact news close up, you would be wondering what’s going on. GBP is weak and USD strong, what the ‘F***’? Now this is a case of price in situation, profit taking in progress. But what if 1st hour candlestick close down sharply and after you put in a short trade, the next hour price reverse and start to rise… mean reversion?? Or whatever? and you start to sweat. Have you entered an appropriate reasonable lot size trade?
So how then? You would be wondering. And this is just ONE of the many mind boggling scenarios!
But have no worries, you have a highly accurate illusive methodology. You have been COLLECTING data of such high impact news for EONS. You know the market like the back of your BUTT. What does your private collection of charts and spreadsheet tells you?
Ultimately, is it up or down? You know. Up by how many pips or down by how many pips till the next market session open. You know. What is the daily ATR? You have annums of EXPERIENCEs. A seasoned veteran. Or would you not know? Then perhaps maybe you are not cut out to be a news trader after all?
Collect, observe, ask questions and answer your question. I can only point you the way. You must walk the path alone.