I first starting learning and trying to apply Elliott wave theory back in 1966. I became quite expert in its application and often discussed it in my forecasting letter, The Cyclic Forecast, back in 1977-83.
But while I think Elliott is a beautiful theory, and often can give insight into the market's position in longer time frames, I think it is a distraction for short term traders. Here is the problem. To be successful as a trader you have to tune in to the market's message about the current supply-demand balance. By this I mean that you have to be able to use the market's action to judge whether longer time frame traders have above-normal long positions (trend up) or below-normal long positions (trend down).
How is this information conveyed? By the progression of trading ranges and by the direction of unusually long, uncorrected moves in prices. Everything else is simply an attempt to interpret the market's message in artificial ways. I think most computerized technical indicators are among these "artificial ways". Elliott wave theory is also in this category as are cycle theories, astrology, etc.
The problem with using Elliott, technical indicators, etc. is that they at best distract you from the market's supply-demand message, and at worst deceive you about this message.
There were very successful traders before computers, before Elliott, before almost all currently popular approaches were invented. Ask yourself this. On what did these traders base their market insights?
So I say look for what has stood the test of time, for methods that don't obscure the market's action with a lot of complicated formulas and rules. This is what you need to know and apply in order to interpret the messages markets are sending you.