The Magpies secured a 2-2 draw at Anfield on Saturday.
The Magpies looked set for a disappointing afternoon on Saturday as they found themselves two goals down inside the first half.
However, a spirited second half fight back saw them secure a 2-2 draw and a vital point in their fight against relegation.
It was a second successive impressive showing from Rafa Benitez’s side following the draw with Manchester City in midweek, and Colback says they told themselves at half time that the game wasn’t over.
"It's a good point for us. Each one counts,” he told Sky Sports.
“At half-time we said we had to keep going and keep believing. We've been in positions like that this season where we've gone on and lost.”
“But the belief is there and everyone working hard to for one another."
Newcastle will now be hoping they can build on these two positive results and mount a late escape from relegation in the three games remaining.
Much is likely to rest on what Arsenal can manage in their next two games, with them set to take on Sunderland on Sunday and then Norwich City next weekend.
If the Gunners can secure wins in both of those games it will provide Newcastle with a huge chance of avoiding the drop this season as in their current mood, winning their remaining games doesn’t look impossible.