As a range trader, I remember only one Golden Rule: When prices are going up, identify the range and buy at range lows. Similarly, when prices are going down, sell at range highs. When the moves are sideways, do both, i.e. buy at range lows and sell at range highs.
Today's price action is a good example of this rule, buying the range lows when it is going up. See how,
Here market rallied and then four ranges got formed. For range A, we did not have a test of the low and we did not get proper entry point. For range B, we had a TST of range low as an entry pattern. For range C, we got two BOF opportunities. So in total we had three good trade opportunities to trade with the trend and at the lowest risk.
When we trade the ranges, target is always other range extreme but we can expect more. Many a times successful BO happens at other range extreme. Here price broke out of range C and sustained above it for a while before coming back into the range.
Identify the range and make use of it.