Miss

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Whenever a player's attack misses, he or she will briefly see a yellow indicator text "miss."

Miss is an attack that fails to hit its target due to blindness or by a skill that explicitly causes misses.
Blocking, failing, and dodging are not the same as missing, although players may use the term "miss" to simply mean "did not hit."
Miss chances stack multiplicatively, not additively. This means that two 50% miss chances equal a 75% chance to miss.
Your projectiles will appear to stray off their course when you miss. They will either go to the left, or to the right of the target if you miss.