The Piranha strategy only works in a ranging market. If you trade using this strategy, you need to stay away from trading during news releases. However, you can trade before and/or after news releases. There is no specific time gap to wait before taking the next trade after a news release. It all depends on each individual trader’s assessment on market volatility. If you see that there is market volatility around a news release, I suggest you refrain from trading at that time.
This strategy also works well during the Asian market sessions since volatility is generally low, making the Bollinger Bands relatively flat.