Core terms
First pullback
The first dip after a breakout or strong move, under a written rule for what counts as the breakout, a pullback and "first". Common outcomes include continuation, chop and failure.
"First" is easy to see on a finished chart and slippery at the time: first after the breakout, the open or the day's first big candle? One countable version: the breakout is the first regular-session 1-minute close above the premarket high, and the first pullback is the first run of at least two consecutive 1-minute bars with lower highs after it. It qualifies only if its low stays above the breakout level; a dip below that level is a failed breakout, and a later dip is not a "first pullback" under this rule.
Depth (the share of the move retraced), duration in bars and volume during the pullback are worth recording as conditions. None of them is a trigger. Light pullback volume fits a pause and also a market with fewer participants of either kind. The pattern overlaps with the bull flag.
What traders should verify
Label pullbacks with later bars hidden, record depth, bar count and volume for each, and keep continuation, chop and failure in the same count.
Do not conflate
Trader usage; there is no official definition. A red bar inside a run is often relabelled after the fact ("not really a pullback" when the next one fails), which inflates apparent success. No FennEdge study has measured first-pullback outcomes yet.
Primary source
Trader usage: there is no official definition, and platforms and tools may calculate it differently.