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Today we look at XNET on the 2 minute chart. Clay brings up important information regarding ‘fading.’ We poll the room for various entries to go short and their reasons why. We also discuss a stocks energy and how that relates as we approach significant levels of support or resistance (50sma in this example). Rubberbanding into a significant level of resistance provides a high probability fade trade but remember, this does not guarantee success. That is why we set our stop in advance. After setting up the trade plan we see that after some slight indecision the chart completely crumbles. Most members went on to hit their target and then get additional profit by trailing their stop but a big emphasis is placed on adhering to our STOP. This chart could have exploded upward so we always need to focus on protecting the downside of a trade.