I tried to trade this M5 range on the EURJPY. The salmon-coloured zones represent support / resistance zones.
I saw that a range was forming, and went long after I saw price bounce off support.
Price didn't move up as strong as I expected. When price reached halfway through the range, I moved my stop loss to breakeven. I expected price to go up or I was out. I was stopped out at breakeven.
After awhile, the bears gave up and price resumed moving upwards again.
I thought this trade was okay. If price was having difficulty ping-ponging in a range, it's a sign that bears (or bulls) are gaining the upper-hand.
(click to enlarge)