 Good afternoon everyone and welcome. Welcome to JCP Let's just take a look at this chart here at JCP was a call I made today and actually to be honest with you It really is not a gap today a new gap. Oh, it's a kind of a little bit of a new gap Let's just look it's really continuation gap closed on Friday at 883. This is like neutral Yeah, it's a neutral actually this is a neutral open here today But it really is a chart that I've been watching to move lower for really since the beginning of time But it's a continuation gap. It's a continuation of the move that's lower in the chart and back here Okay, when the stock gapped up gapped up here, this is not a good bullish gap This is not a good bullish gap if you bought this here You were not money very long if you bought it here You made money on the day and actually into the next day and for a small move up, but it's not a good trade Why why is this a bad trade? Why is this a bad trade? This is not a highly rated golden gap a good gap to buy in and actually it's not even a bullish gap This is a gap down. It's a gap down failure. It's a stock that got down GCP any gap down the day that it went green on the day, okay? So this is not a proper real entry to buy in any event the stock is a short Called a really aggressive entry in this today I kind of saw in in in the morning that this was gonna break today and it didn't it did if it's broken It's it's on its way. There's nothing stopping it now next target is 815 then eight dollars This thing falls off a planet again I think here under eight under eight it falls off a planet and it really could keep going under seven Like even not that far for long from now But definitely definitely eight dollars and then under eight is where you really can get paid in this thing Now I'm not saying this happens today I'm saying for an overnight trade or a swing trade basically swing trade is a trade in the next five to ten days He'd said but today. I'll show you the short I called in this which could be the entry then for the swing trade Actually Here you could have done this right out of the gate, but I didn't see this until after the fact in here Stop over here rallied up retested resistance held could have sure to get and could have taken more could have done the I dropped on down broke broken here could have gotten out of some and could have held the whole thing Let it rally back and here's the five minutes set up again in here and then you learn the stop So actually the stop would be here at the entry price of the first trade And then you can't lose in the trade. Although. This is a beautiful beautiful beautiful move look So got to the mini first target, which was 850 here into 12 o'clock major reversal time a Nice move here with a very very quality entry entry here on the five minute is 64 This is like a look at this So even though this only moved, you know about 20 cents It's still a nice quality trade in a daily chart stock that's broken that has a bigger target in it Which is trying to make a new low here now look at this Actually the 15 minutes that up to You could have done it at 61 Although I still have the stop up here where it is in the five Excuse me So JCP is continuing down and eight dollars looks very much well in sight Whether or not that happens today or not who knows, you know This is really not a gap plate today for a new gap This is a continuation fall through in the daily chart of the stock to continue lower to the next target You could be in this as a swing trader or core trade or the daily short today And there is potential that this gets to eight today that if this gets to eight dollars today That's like a seven-hour trade on a day that it didn't even gap this of the new gap day This is a continuation. Okay, it's because I'm reading the overall trend in this to seem to wait till it breaks Rallyed up to resistance rallyed up to resistance hell broke right up to resistance You see why you cannot take a trade in a stock in a position in a chart just because it does a pivot If you do that if you did that if you are in this it's gonna break. I can tell you that right now This is what people did they can't they bond here. How do I know they bought I can see they bought I can see the green bar gapped up gapped up again. There's nothing to do here Some people got out of it immediately actually can see here today Is the swing trade just boop up in one night? Rallyed up here made a higher high came in made a higher low It doesn't mean you buy the stock here If did a buy set up on the eight and on the 20 and made a higher low and a higher high But that doesn't mean you take this the position in this long Because rainy pivots doesn't tell you what a chart is doing in an overall trend Just like you can't buy every buy set up in the daily chart to stop and you can't show every cell Set up in daily chart in a stock you have to know exactly what you're looking for To read what's happening the bigger picture which has to do with the price and it's all based on gaps I mean this is the reason that I'm good at reading price and charts because I'm good at reading gaps You must learn how to read the gaps the gaps the gaps the gaps They tell you what's gonna happen in the price of the stock before The move happens to know how to take the position because this is a great Great short move here in JCP to get this back up into a rally Anywhere in the 9s or the 8s to get this down into the 7s or the 6s or the 5s again So it's a huge beautiful trade. I Don't know the timing of when it gets to these numbers But it looks likely the JC pending will definitely hit eight this week today's only Monday And it could hit it today and then once it breaks ain't that's where I think it falls off the cliff So we'll have to say this is Melissa with the stocks wish calm in his 12.05 on Monday March 31st Guess what tomorrow is April 1st. Can you believe it? It's April tomorrow already? This year has gone so fast so far, but spring is on the way There's no looking back for spring now so happy can't wait for spring spring is a great time to trade the market It's a great time to be outside and enjoy the city and everything it has to offer And it's a beautiful time doing start to enjoy the outdoors and get ready for summer Have a great day everyone. I'm doing a lecture a webinar today at 5 30 Eastern time It's going to be about how to reprice actually I can even talk about JCP in the lecture tonight if I if I have time This is Melissa with the stocks wish calm email me with more information of Melissa at the stocks wish calm in The next gap course is this weekend April 5th and 6th. I'm doing a special day 3 by special request On this class. I normally it's a two-day class day 3 is just going to be live trading and actually reviewing live gaps it's going to be helpful for people It's a bonus day bonus day on this gap class this weekend if you want to do it So feel free to sign up and reach out to me Melissa at the stocks wish calm. Thanks everybody. Have a great day