It seems like through some outer glow and transforming, you got some kind of nebula.
I don't see it resembling any kinda chakra, or "aura" for that matter. But, I do see how you could force-feed the idea. Take a Naruto character, and work around him with the effects you've used. The shape and texture should wave upwards and have a motion to it. Hope to see ya try my idea. :]
nope, doesn't remind me of chakra either. but what hwoarang said might be usefull. using a character and adding that effect. you made it with smudge tool etc right? also if you want to make a picture with chakra like that, do something with the black space. now it's all empty.