SUMMARY
Here is Chesapeak Energy (CHK) with a clear and crips five wave install (white) and the resulting correction which has been labeled as ABC (red). The C wave could also be positioned a bit lower with one more potential but incremental lower low. Would this be considered the terminal end of the correction? Are terminal ends of corrections the worst or best times to buy?
CHK is looking to rise and mark the end of the correction! The subwaves show this is likely a ZigZag that just about complete, if not already. The blue impulse shows the potential of a trend swing reversal. The MACD is coiled and ready to support the price. Would now be a good time to cast a buy ladder entry?
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