The state or situation of affairs; prospects or outlook (e.g., for victory or success). Often used for political, military, or competitive contexts.
選挙戦の形勢は刻一刻と変わっている。
The state of the election campaign is changing by the hour.
後半に入って形勢が逆転した。
In the second half, the situation turned around.
戦いの形勢を見極めることが重要だ。
It's important to assess the state of the battle.