So annoyed with myself over this trade! Red arrow was where I took the short after confirming down 2 candles previous. It managed to get to about 38.8 pips, just a little more than a pip away from my take profit before it shot back up.
I was well aware Janet Yellen was making a speech but had forgotten to take appropriate action. Instead of closing the trade (in profit), I left it running to which it ran completely against me, stopping me with -20 pips.
The general rule when there is high impact news (even though Fed speeches are not actual number releases) that has the ability to move a market by more than 15 pips, then one should always close the trade out.
Edit: There was a stoprun against the trade made on the newly created lows of the London session, which should have prompted an exit out of the trade I was in.
Live and learn. Hopefully I won’t make the same mistake again.