Facing left and wearing white gloves (symbol of innocence) the Knave suggests good intentions in the face of malign forces.
Mary Packard writes that according to renaissance symbolism the red stocking and the white stocking indicates a conflict between lust and purity. Or as Stuart Kaplan (US games system version of the Visconti-Sforza) suggests they may just relate to the colours on the armorial shields depicted on the Knight of Swords and Staves and the Ace of Coins.
I'm reminded by this of bad scholarship - believing the first thing you read or that every thing that is written must be true. And of the importance of research and cross-referencing.
I don't know which interpretation is true. Perhaps they both are. At least I am aware there is debate and that makes me doubt my immediate interpretation that innocence is about drop off a cliff.
If you would be a real seeker after truth, it is necessary that at least once in your life you doubt, as far as possible, all things.