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