Trend
The persistent directional bias of price over a defined timeframe — up, down, or sideways.
A trend is the market's dominant direction over a chosen lookback. Dow Theory defines an uptrend as a series of higher highs and higher lows; a downtrend as lower highs and lower lows. No trend lasts forever — they alternate with ranges and reversals.
Trend traders align entries with the prevailing direction and let winners run. Counter-trend traders fade exhausted moves. Knowing which game you are playing is non-negotiable.
On the desk
If the last three swing lows are rising and pullbacks are being bought, a fade at every uptick is fighting the family you claimed to trade.