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Definition:
Day trading markets are referred to as either ranging or trending depending upon the type of price movement that is currently occurring. The descriptions of these types of markets are as follows :
A ranging market is a market where the price is moving back and forth between a higher price and a lower price. The higher price would be acting as resistance because it prevents the price from moving above it, and the lower price would be acting as support because it prevents the price from moving below it. The price range of a ranging market can be small or large, and if the range is very small the market would be considered to be in chop (moving sideways with very little upward or downward movement).
A trending market is a market where the price is moving in a single direction, either up or down, but not sideways. There may be several small price reversals, but nothing large enough to prevent the price movement from continuing in its original direction. A day trading trend may last for a few minutes or a few hours, and longer term trends may last for several weeks or months.
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