Elliot Wave, if taken straight “out of the box” doesn’t work.
However, it’s worth noting and studying the legs of a market to derive potential setups.
I personally take note of an intermediate time frame (4/1 hour for me) to see how the market is doing at the “elliot levels”. I don’t base my trades off of them, but it’s worth noting the reaction to it.
If, in the event for example that UJ completes a triple cycle (5 wave sequence), I begin to note how the price is reacting to the trend of its last leg down. This gives me a gauge into if the market is prepping for a move to its previous supply zones.
It’s a little hard to explain, but EWave is worth studying. Just don’t bet your whole house on a subjective fibonacci level.