Hello fellow traders. Today, I want to share some Elliott Wave charts of the CHK stock which we presented to our members in the past. Below, you see the 4-hour updated chart presented to our clients on the 09/09/18. showing that CHK ended the cycle from 02/09/18 low (2.52) at the peak of 07/10/18 (5.59)
Below from there, we advised members that it should see the equal legs from 07/10/2018 peak towards the areas of the 100 – 1.618 Fibonacci extension of red wave W-X which came around 3.85-3.55. Therefore, we expected buyers to appear in the sequences of 3, 7 or 11 swings. And that was the first area for buyers to appear to take prices to new high above 07/10/18 (5.59) peak. Or a larger 3 waves bounce at least.
CHK 09.09.2018 4 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart, you can see that CHK reached the blue box area (3.85-3.55 areas) and showed a nice impulsive reaction higher. Due to the right side tag. We advised members to buy the blue box. And if traded our blue box. Any trades from that area have been risk-free, which means the stop-loss was moved to breakeven, targeting higher levels. Do please keep in mind that the 4-hour chart which I presented might have changed already. The blue boxes you see in our charts are our so-called High-Frequency boxes. Where the market ideally shows us a reaction either lower or higher.
If you are interested in how to trade our blue box areas and want to understand how Elliott Wave works. Then I recommend you to get a shot on our special promotion which we are currently running below.
CHK 10.04.2018 4 Hour Chart Elliott Wave Analysis
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