often time, I hear
-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.
Maybe go through the babypips school again, channels could mean anything - indicator wise - regression channels etc… or generally just means its stuck in a range(pip movement) and not trending. While moving averages are nice they are still lagging - some think of them as leading indicators because they don’t turn instantly. I am only new to Forex as well.
Bounce off simply means that it goes to that point and price is rejected, stopping his current trend (that has take price to that point) in that direction and possibly initiating a trend in the opposite direction.
Hope it helps
“bounce off” is a sharp move in one direction to a specific area and then to the opposite direction… the latter direction is generally the same as the prevailing trend:
USD/JPY
The last reply, including the graphs, says it all. A bounce off is just that, a break and sharp turn…
Indeed a picture is worth more than a thousand words. Thank you so much.
Just think of price like it was a ball, support is the floor, and resistance is the ceiling. What happens when a ball is thrown at the floor or ceiling? It “bounces off” of it and reverses back the way it came. However if the floor or ceiling isn’t very strong, it may break the floor or ceiling and go through it.
Probably obvious now, just sayin 
Sounds like an apartment I once lived in during my college years.