The dip stick will frequently give a false reading after draining the torque converter and transmission.
It can easily take several hours to re-establish the correct level.

The safe - correct procedure:

* Drain the fluid.
* Measure how much was removed.
* Write down how much was removed.
* When you are prepared to begin filling the transmission...
* Put four quarts in, with the engine off.
* With the engine running; Add the remainder of what came out.

You want exactly the same volume of fluid back in the transmission.
** Too little will burn out the clutch plates.
** Too much will cause foaming, and possible spewing from the dipstick tube.
Danger: Transmission fluid can flash fire - burn on a superheated exhaust manifold or catalytic converter.
Examples:
Fire Caused By Transmission Fluid out Dipstick Tube - Ford F150 Forum
"HOT OIL" MESSAGE, fluid boiling out of dip stick tube causing fire!!!
At the beginning of an investigation of a vehicle fire, the following scene presents itself
Transmission blowing fluid out dipstick tube - Ford Explorer Ranger Enthusiasts "Serious Explorations"®

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