In the exposition, we learn the characters, Della and James who live in a cheap apartment and this takes place the day of and before Christmas but she is faced with a problem when she finds out she only has $1.87 to buy James a Christmas gift this is the exposition because we learn the characters, setting, and plot.
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To afford a gift for her husband Della cuts off her beautiful hair just to afford a gift for James which gets her $20 and she tries to go find a gift for James. This is the inciting incident because Della had beautiful hair and is loved by Della and James and she wonders what he will think.
Della goes shopping for James's gift and she finds a chain for James's watch which was passed down from generation to generation and thinks James will love it. this is the rising action because we want to see two things what will James think of the watch chain and what will he think of Dallas's cut-off hair.
James comes home and Della surprises him with the chain for the watch and sees Della's hair and then tells Della that he sold his watch so he can buy her a pack of combs she has been wishing for. This is the climax because it is the most exciting point because Della sold her prized possession her hair for James's gift and James sold his prized possession for Della's gift.
I sold my watch
James and Della are now equal because they both sold their favorite things just to buy each other gifts for things they sold. This is the falling action because we want to see if they are mad at themself or each other and we are waiting for the story to cool down.
James tells Della to not worry about the gifts and to just relax and enjoy the Christmas day. This is the resolution because they resolve there issues and know not to be mad at ecahother and enjoy the fact they are together.