Plain English Meaning
Keeping the nose pointed at the same angle above the horizon and not letting it rise or fall, even as the airplane slows down or the wings level out.
Full Definition
A flight condition in which the airplane's pitch attitude — the angle of the nose relative to the horizon — is held steady at a chosen value while other parameters such as bank or airspeed change. In a chandelle, the pilot establishes a pitch attitude during the first 90 degrees of turn and then holds that same pitch attitude constant through the remainder of the maneuver as the airplane decelerates and the bank is gradually rolled out.
Context Anchor
Used in chandelle training when describing what the pilot does after reaching the highest pitch attitude near the halfway of the maneuver.