Trading in ranges can be profitable depending upon many factors. The factors include:
Conventional wisdom says stay out of ranges and trade only in trending markets and trade with the trend only. Our philosophy is to trade in ranges with SMART MONEY against Retail traders. We track SMART MONEY activity and take the trades they take. When Retail traders are selling we buy. When Retail traders are buying we sell.
The most important factor is to know where you are at. You have to know where you are in the order flow so that you take a high probability trade. Good trade location is getting in where it makes sense in the overall market structure. Using only visual aids (what you see and draw a conclusion from) such as head and should patterns, moving average crossovers, MACD levels without considering other important factors will get you into lower probability trades.