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Range

A period where price moves sideways between a defined support and resistance without trending.

A range beside a trendOne chart swinging between a flat floor and ceiling, another stepping upwards inside a pair of sloping lines.Range-boundresistancesupportprice bounces between two levelsTrendingthe trend channelhigher highs and higher lowsA range has two flat edges; a trend has two sloping ones.
Range versus trend. On the left price keeps bouncing between the same floor and ceiling, which is a range. On the right each high and each low is higher than the last, inside a pair of sloping lines called a channel.

Ranges, also called consolidation or chop, are where trend-following strategies bleed and mean-reversion strategies work. Price bounces between a floor (support) and a ceiling (resistance) until a breakout resolves it.

Markets spend more time ranging than trending. Recognizing which regime you are in matters more than any single indicator.

Example: an index trades between 4,900 and 4,950 for eight sessions. Buying near 4,905 and selling near 4,945 works until the day it does not, which is why a stop outside the range is essential.

Related: support, resistance, breakout, chop, mean-reversion

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