True definition of a pullback

Hi,

as far as I understood Al means that even one bar can be seen as a pullback. Also consecutive bars can be a pullback as well. I looked on those one bar pullbacks on a smaller time frame to understand better how they are forming. Try this for yourself to get an understanding what is happening on M1 while a bar is forming on M5 would be my suggestion here. So from my point of view it depends a lot of the context what can be defined as a pullback.

A pullback is counter trend move that is then resume back up into the original trend. So a pullback can be very small like a one bar pullback, or many bars.

he also references a pullback as a candle with a long lower wick in a bull trend

That is an even smaller pullback. The long wick was the result of a counter trend move when the bar was forming that was then reversal up by the bar closed.

A pullback is any pause in the up to then prevailing trend. 

Pullbacks can be:

• in space (deep and fast) usually attributed to profit takers
• in time (take a while but not cover much distance/flat) usually attributed to either lack of interest (low volume) or big limit traders entering in the opposite direction but not yet actively initiating at market a.k.a final flags
• just a single small bar

There is no "definitive" pullback. Pullbacks are a natural part of market cycle. As a trend loses momentum, pullbacks increase in magnitude as more with trend traders begin to take profits and more counter-trend traders initiate fresh positions. And depending on the strength of the prevailing trend, pullbacks can start small or big, it depends on the context. 

Ok. Thank you. But I am talking about in the context of what Al was speaking on. In a bull trend he referenced a pullback as both a long tail on top and also on the bottom of the bar. I am just wondering was that a mistake or is a pull back in a bear trend also when you see a long tail on top and/or the bottom of the bar? 

Thank you! This was what my question was about. But I appreciated all the feedback much obliged. GOD you guys sound so smart in here, I hada reread the answer like three times in order to even remotely understand. But I'm on my way. Much obliged.

Is there a percentage of how often the pullback fails and becomes a reversal?

also there is an implied pb

Can a dojo bar in a breakout also be considered as a pause (PB) even if it doesn’t go below the low of the prior bar ( more of an implied PB )

Hi Satya, check out my 2c (i could be wrong)

i didn’t quite get your question Mike - could you elaborate?

Hi Satya,

The annotations were my  take at describing the pullbacks  - the ones that are inside bars, and the breakout bars with the small tails - both imply the inferred pullback 🤔

I could've gotten it all wrong ...

yeah..it seems to be alright, although Al sometimes uses an alternative terminology where pause bars ( dojis which do not fall below the low of prior bars ) are also called as pullbacks. you can go through market cycle videos to learn about this.