The term trading range refers to a period in which an asset or security moves within a specific price range, without breaking above or below certain levels. This is often seen as a consolidation phase where prices are not making any significant progress and instead are oscillating between support and resistance points. The boundaries of the trading range can be determined by identifying key technical levels such as moving averages, previous highs/lows, or psychological round numbers that tend to act as barriers for price movement. Traders often use this information to make informed decisions about when to enter or exit positions within a particular stock or market index.