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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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?

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