This 'thing' called Elliot Wave theory is a real method of TA. Elliot described it last century to make the Dow theory evolve (too 'simple' to describe the complexity the market) . It's also really appreciated by other TA, read 'TA of stock trends', they have the same kind of approch than the EW and they says it in the beginning of the book. Combining two or 3 kinds of TA is just really powerful.