Shane Blankenship

Trading the First Pullback in PEP Play When It’s in Play

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In this post, I will break down the First Pullback Pattern and use a real example in PEP to show exactly how the trade is structured.

First, we identify the context (the First Pullback).
Then we apply a structured execution method (WRB Fade).

The key idea is simple:

Only trade when the market is in play.

So how do you know when a market is in play?

You’ll see a clear impulse move — an expansion with urgency as traders are forced into or out of positions. Bars expand in size and begin pushing with less overlap than the previous bars.

The First Pullback Pattern is exactly what it sounds like:

The first pullback that occurs after this impulse move.

Workflow

1. Wait for the market to be in play (a clear impulse move).
2. Identify the first pullback after that impulse.
3. Execute the trade using a structured rule-based plan with defined entry, stop, and management.
4. Repeat the same process in back tests and live trades to build skill with the pattern.

By locking into one pattern, one context, and one entry method, our trading becomes far more precise and far less random.

Now we have something we can test, track, and measure.

That’s what turns a “setup idea” into a real, repeatable trading process.

Link to WRB Trade Planner

Shane

Context: The Difference Between Random and Quality Trades

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A setup is only a small part of a trade. Context determines its meaning.

The same WRB setup will often behave differently depending on where it forms within the swing.

In this video, I’ll lay out a simple way to think about and understand context using swing zones. The swing is divided into three main zones — the Swap Zone, the Pressure Cooker Zone, and the Clean Air Zone.

For each WRB, you should ask:

• Which zone it formed in — Swap, Pressure Cooker, or Clean Air
• Which type of entry makes the most sense — continuation or fade
• How it fits into the larger structure — trend, range, or transition

Your setups become clearer when you can say,
“This WRB is happening here in the swing, so its message is probably this.” With practice, you will begin to understand how price behaves in different parts of the swing cycle.

Live trade plan: NXT Clean Air WRB fade.
We’ll apply this context framework to a Clean Air WRB fade trade on the weekly NXT chart, defining entry, stop, and target with the WRB Trade Planner rules.