High Probablity Trades

Quote from silvermotion:

for intraday trading, fade the daily midpoint, the hi-lo-close of yerterday, todays open, etc


What is fading a price?

Thanx.
 
Playing off a stepping up ECN reserve bid with a sizeable bid (say 6k shares, that is shown) which is a legitamite order and I know I'll be able to swipe when/if the reserve ecn order breaks. That sizeable bid should be within a few cents of the ecn reserve to maintain ideal risk reward. Even if the ECN reserve bid isn't stepping, the trade can be great.

This works on the sell side too.
 
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