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This chart of Lancaster Colony Corp. (LANC) seems pretty clear cut with respect to enumerating the impulse sequence. Waves 1, 2 and 3 are complete which means that the current price correction is that of white wave 4. The decline isn't expected to exceed 40% or overlap with the peak of white wave 1. As this is a weekly chart, the correction is likely to last sometime in 2020 or so.

The pattern that white 4 will likely take is a downward wedge (blue lines) and its completion would allow the onset of white wave 5. The blue subwaves qualify the label placement of white 3. While there are almost always more than one way to Elliott Wave label, the direction and trend identification is all that matters.

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