 Good afternoon everyone. This is Melissa with the stockswish.com and welcome. I thought I would review files Someone had asked me about this chart a couple of days ago Haven't had a chance to look at it because I had the GAP class this weekend until now I didn't also had a big rally here today big for file. It was 50 cents Someone emailed me because they're in this position long It's file isn't long file is a short and it's very interesting because even when this happened here I knew file was still a short and when this happened here and this happened here I knew file was a short and a gap down here within a month of that Rallied up here, and I knew it was still short and it did this thing here today this little nothing thing here today And it's still a short so file is a short anyone that's in this long my suggestion is to Make a decision where you're what kind of loss you're willing to take on this if you're down in the position You know I have the same When the reason for taking the trade is gone you exit the trade So I don't know why anyone would go long this I really don't I see what some people did here because it did a Buy a set up here and went over here and went over and made a new high here and then made a higher high and a higher low But the overall chart of fire was done and it's been down and it's gonna keep breaking so File isn't gonna fix itself until I'll tell you where file is a buy About not before by the way If I I can get up to 23, although it's much better here 25 It's better 25 But if I ever gaps up any day of its life Whatever gaps up to 23 it's a buy. It's an uptrend then or 25 Furably 25, but it's not a buy now, and it's not a buy anytime soon, and it's a rise up to ten dollars It's not a buy. It's it's a short So this had a little move up here today and what happens when things do things like this Who knows it could have been news it could have been whatever it could have been short covering People are in file short that is the right direction and people might have exited their short position here today Or it might have had some kind of news rally. It doesn't matter But this is not something to buy into you can see that this is a small little bar This wasn't something to buy you see that it collapsed and reverse this completely This wasn't something to buy and this was way bigger than this bar a little down here And this rally up here too. Do you see how this rallied up here perfectly to resistance file gap down here rallied up here hit up here And 1590 held 16 dollars came in rallied up again hidden here and held held 16 dollars gap down here I played this one as well rallied up and guess where it held beautifully absolutely perfect 1515 didn't get anywhere near 16 dollars file came down here inside in the 50 per moving average and people are in love with this I'm thinking it's going to fix itself and go back up and they should buy it and they're buying something It's going to make them a million dollars, but it's not file gaps on here in the 24th And that does this rally here is it going to fill the gap is there ever such a thing is that ever anything is that a strategy Is that anything to trade is there a reason to risk your money doing something like that the answer is no No, no, no file is a short and it rallies here into the resistance the minimal least amount of resistance to Possibly go to what is it? It's the actual opening price here of the day of this gap 1125 and that's where file rallied up here 1131. This is an area this counts file is a beautiful chart It's a beautiful chart for a short gap down here rallied up held the number rallied up held the number gap down Rallyed up held the number a gap down rallied up and held the least level of resistance if possibly good File is breaking breaking breaking breaking breaking and file is going to keep collapsing File may have a rally back up somewhere in here temporary Into the end of the year, but I doubt it. I I really really doubt it I think fire is going to set up as a short again here soon All right, so it's just one of these things that if you're in a position and you realize the reason you took the trade Was because you thought it was going to go higher and then it doesn't go higher and it fails to go higher It only has one bar here and then it levels off and it breaks You should kill the trade break even in my opinion when you realize it's something's wrong There's something wrong here. This bar should not have been reversed if this was going to hold and it was never going to hold It just it was never never never going to hold One of the reasons that I'm good at trading is because I can read trends and I know how to play with trends And I do that when you play against the trend when you can choose to do that know that it's you're asking for trouble You're just asking for trouble and the problem is it ever wants to bloom in somebody will take a trade The complete not as a direction buying a down Gap or a down move something in a downtrend and getting a rally or shorting something an uptrend at steams Topping every once in a blue moon somebody will get a trade like that And it'll be a big trade for the for the person For the individual and then they'll think that that's what they should do. They'll think oh, this is my strategy This is what I'm gonna do I'm gonna make millions of dollars trading like this But you're always against the trend when you do that and they don't work as a strategy or a way to make money in Market the only way you make money in the market is playing with the training I learned how to do that and luckily I know how to read and analyze gaps because they're telling what's going on here And I don't see a bar like this and get sucked into thinking files not a short anymore even a bar like this instead of reading it For exactly what it is. I'm very good at reading supporting resistance. I'm so good at this again I say this in other videos the numbers are real people you got to read the numbers you got to read the resistance you got to read the support and you got to know what you're looking at and file is a short and It's gonna rally back up again And then probably fall and break another time and I highly doubt it even gets anywhere near this bar up here And even if it does it's gonna break harder than the next time just like this guy did here Do you see how this sucked everybody into buying this year and broke hard? Sucks some people into buying in here and broke hard So, you know, it's one of these things my advice to people is do not buy a downtrend and do not shorten an uptrend This is just solid solid solid advice. It's very basic information I know a lot of people like to do that because they feel like they're gonna get a big trade easily But there is no such thing there. There just is no such thing Big trades come easily when the market gives it to you and a fantastic gap when you get out of bed in the morning Or you see something great and you say I'm in love with this thing Tonight I'm getting two great gaps two great gaps that I knew we're gonna work or the one that I knew was gonna work Which is the pay that that's the market giving me something. That's the market helping me out That's the market getting ready to pay me tomorrow morning. I'm getting my guy This idea of buying things down or shooting things at the top gets you nowhere Gets you nowhere and makes you feel afraid of the market and not only that afraid to take a loss in something that you know Is a bust and then you pray and help and wish and dream and pray and pray and pray that the stock was back to your initial price Where you can get outbreak even you know what that never happens to people it happens so rarely and the people end up losing more And they should just kill their trade So it's it's my opinion that fire is still continuing the downtrend It is not going to recover isn't going to recover and won't recover the rest of the year And I don't think it recovers next year either Fio has to get all the way up to 23 or 25 and that is a long long way away And so my best advice to people is to watch fire for a short fire is a short So this is Melissa with the stocks wish calm. It's 5 15 on December 17 Have a great evening everyone and I will see you tomorrow You