These two trading approaches are most preferred ones in technical analysis based trading. The trends are easier to recognise ( higher highs or lower lows on hourly (or anything else) bars, for price to go lower/higher of a simple moving average line). Additionaly, if a trend is recognised at the beginning phase, it can give a huge profit or look at the other side, catching a trend in the beginning, lowers the loss for being caught on the wrong side.
Trades based on ranges require more discipline and less emotion. Catching a range is also a skill and if it is properly used, it gives more profit than trend trading since the markets are moving in sideways 70-80% of the time in general.
Check out the chart above. You can see some examples for these two styles. They can be not perfect since I just opened a chart and signed the examples I've found.
