I just looked up feint in Wiki and it's defined like this:
"A feint attack is designed to draw defensive action towards the point under assault. It is usually used as a diversion to force the enemy to concentrate more manpower in a given area so that the opposing force in another area is weaker. Unlike a related diversionary manoeuvre, the demonstration, a feint involves actual contact with the enemy."
So In Risk, you put lots of armies next to the border of a continent and pretend you are going to take it. That forces the other guy to put lots of armies next to you. So yes, Middle East is a fantastic place to put armies for a feint attack as it borders two continents.
"A feint retreat is performed by briefly engaging the enemy, then retreating. It is intended to draw the enemy pursuit into a prepared ambush, or to cause disarray."
Now, this one is a bit more tricky to do in Risk, though it happens. For example you attack a neighbour to reduce his armies just a bit at a time, or to simply get a territory of his continent and leave 1 army there. So then if he wants to retaliate he has to come back through your defences.
I prefer feint attack and I think it is very powerful for a player who doesn't have a continent and is stuck in Asia and doesn't know where to expand to.