Category:1PB

The first pullback (1P) in the first trend attempt that can give you a good trader's equation.

• The first pullback occurs only after three or more bars of breaking out^[1].
• The first pullback lasts only one or two bars, and it follows a bar that is not a strong bear reversal bar.
• The first pullback does not reach the breakout point and does not hit a breakeven stop (the entry price).

From NineTransitions, 1P is more specific. The minimal requirements for the setup to work are:

• There is a solid trending attempt on the open.
• The PB is 2-legged and gives a good RR.