What do we mean by Bounce off in forex

often time, I hear

- Wait for price to bounce off the lower channel or upper channel

-Wait for price to bounce from 200 MA, trend lines, Supporta and resistance e.t.c

Please what exactly are bounces in forex chart. I would appreciate if someone can put up a nice clean video for the sake of this. I have found at that this simple terms has been contributing to my 98% failure rate. Cheers.

Probably when price not only touches a given level / MA / indicator / what-have-you... but moves away from it after touching. Like confirming the given level was valid.

A lot of traders look for the confirmation of price moving like this since there's always the chance prices steam rolls through a level as if it was never there... so any pending order would just get run through.

Not a video but here is a chart picture where price bounced off the privious day low. Often you will get a bounce off your chosen level then a retest. If you are a conservative trader wait for the retest so you will have a logical stop below the original bounce.

Imagine a ball bouncing off a floor, or a hill. Ball = price. The ground = a channel, a price, a candle, a whatever you want)

Thanks to you all for the reply and I enjoy the picture you attached. I now know what bounce is.