Pip Milking Strategy

Learn how to use the Pip Milking Strategy. Read the article and watch the video tutorial to trade this strategy.

Name : Pip Milking Strategy Strategy
Time Frame : 15Min Charts or Higher
Indicators : None - Have to go naked on this one
Creator : Analyst Navin Prithyani (forexwatchers.com)

Ok guys, here is a intermediate to advanced forex strategy. But once mastered. It can be very powerful. It's basically support and resistance, but it helps to take the guess work out of picking the right support or resistance level that will hold in the future. Ok, enough yapping, let's get to the Pip Milking Strategy already.

The Milking Process

You must be familiar with swing highs and swing lows. So what we need to watch out for now is swings. Once the market is moving, we keep an eye out for 2 swings and then the retracement. Confused yet? Ok, just try and read the rest of this out first and then I'll put down examples slowly 1 by 1 to show what I'm saying.

In a uptrend

- You look for a swing high, label it, swing #1.
- Next, you wait for another swing to occur HIGHER than swing #1.
- Label this new high, swing #2.
- Place your buy entry at the high of swing#1.
- Wait for fill.

NOTE: SWINGS MUST BE CLEAR. TRY USING A UPSIDE DOWN "U" SHAPE.

In a downtrend

- You look for a swing low, label it, swing #1
- Next, you wait for another swing to occur LOWER than swing #1.
- Label this new low, swing #2.
- Place your sell entry at the low of swing #1.
- Wait for fill.

NOTE: SWINGS MUST BE CLEAR. TRY USING A "U" SHAPE.

Ok, now for the visual examples (No worries, I'll post the tutorial video below too)

Identify The Swings

Confirm The Swings

Prepare For Entry

Additional Examples

Agressive Entry (No 'U' Shape)

Downtrend Example

Pip Milking Strategy Video Tutorial

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