not following EMN, but your counting makes sense. May I suggest an alternate count for your 12345 in black? Wave 3 seems to be too short and 4 is overlapping 1. It makes me believe this wave is still developing and your counting for waves 5 could well be extend further. If this is true, the bullish divergence would have to wait a couple more in order to take place.
Very nice chart and counting. Pls keep sharing.