Dollar Tree (DLTR): Retracement can be Deeper than Labeled!

in money •  27 days ago

SUMMARY

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Here is a dollar tree update (DLTR) and the red halo event is still ongoing. White wave 1 and 2 formed teh symmetrical triangle that led to the wave 3 surge as shown in the below chart. IF this Elliott Wave count is correct, then a sizable correction can be expected. As EW states, after five waves, a requisite correction is a must.

The red ABC sequence shows the projected pathway for a correctional retracement. The markings are conservative since the red C wave retraces to the prior wave 4 (white). However, since the ABC are subwaves to a higher degree of trend wave 2; it technically can retarce to 0.78 Fib level or even 0.88; as long it doesn't dip below the origin of wave 1.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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It seems to me that there are still many different reasons why one can determine the movement or change of a wave. There are computer programs that help to determine the dynamics of the movement of waves.

80 rep jeez!

Hi haejin, thanks for all you do for the community. I've started a new blog where I summarize BTC TA Analysts. Would love for you to take a look. Hopeful that you find it meaningful. Didn't ad your TA, as famunger is doing a great job with his TA Summaries. Cheers

https://steemit.com/bitcoin/@btc-hunter/btc-ta-bitcoin-technical-analysis-analysts-opinions-may-29th

First I marked it the same. But than I've put 3rd wave lower as I didn't see how to mark the subwaves of this last push up.
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