Folks,
This is called a straddle. I am playing with this method too at the moment. What we have seen with the news lately is that there is movement in only one direction after the news , not much whipsaws like we used to see before. But if the limit order was opened with a trailing stop , even with the whipsaw action we might be able to escape with a breakeven or good profit. This might work, let's give it a thought. Although i dont know if it will be possible to create an EA for this.

Thanks