The term pullback in technical analysis refers to a temporary reversal in the direction of a price trend. This occurs after a sustained move in a particular direction and when prices move against the trend for a short period of time and subsequently resume their original direction.
A pullback in an uptrend occurs when prices fall back from their highs before moving higher again. Similarly, a pullback in the downtrend occurs when prices move higher from their lows before falling again.
Pullbacks occur in the normal course of market behavior. They can provide traders with a low-risk entry opportunity to enter a trade in the direction of the trend. Pullbacks often occur as a result of profit-taking by traders or investors who bought at higher levels and provide an opportunity for new traders to enter the market at a more favorable price.
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