CHK Elliott Wave View: Found Buyers in Blue Box and Rallied
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 at 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.
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