Well the market rarely does what you think it will do and this afternoon was a good example. There was the ECB announcement this afternoon followed by a speech by the Fed in the afternoon. The result was a bit of a carnage in the afternoon with the markets selling off (due to a fear of interest rates going up).

I’m a price action trader so the news or fundamentals don’t really matter to me. What does matter is how price behaved  after the news and how best to trade it.

When news has this kind of effect on the markets, the best thing to do is get on board the train! Look for potential pullbacks to key support / resistance levels, or pullbacks to the moving average as shown in the chart below.