There are two difference opinion on Elliot Waves , of course they are who like EW(Elliot Waves) and who don't like or even hate it(maybe they had lost tons of money using EW I don't know tho). The disagreement the gap is so huge that I have been told by some ironic words many times. I don't care, it's your freedom to love it or hate it. But I think as EW trader I should write in my sns once, or at least once to defend for Elliot Waves.
EW is often called a method, people tend to use it individually, which I think will increase the possibilities of mistakes.So, I would rather think it as a "indicator". Yeah, it is a method that indicate where the trend might be, where might be a reversal point. It is a indicator which is not succeed into a black box tool, added in "indicator" catalog. It is difficult, maybe it can be coded as a "indicator" tool but it's just complex.
And, as what we know about indicators, they also make mistakes as well. That's usual, no one indicator can guarantee you a 100% successful trade, if that ever existent, either sold with billions of dollars or everyone of traders is a trillionaire. If you are new in chart analysis please remember it now, as I know, no one indicator is supposed to be used individually.You should use multiple of them, like EMA and RSI , or MACD and stoch RSI and EMA, or BB band and OBV and so on. this will bring you more possibilities to win a trade.
Clever as you are, you must have known how to use EW, yep, like me , I like use stoch RSI and MACD when I count waves,stoch RSI give me reversal point, MACD show me the direction of trend and also possible reversal signals.
And finally,the basic of EW is simple. 5 waves and 3 waves in two directions, and some special case. But to know it you should spend a lot of time to use, to watch others' count , to learn. Then I believe you will see its charm.
Happy trade guys!