OANDA:XAUUSD   Gold Spot / U.S. Dollar
Despite a very impulsive move, gold waves are difficult to count. I even assumed on this chart that the whole move could be wxy in wave 1 of a leading diagonal . There is no divergence on RSI meaning that there should be new lows very soon. At the same time gold can easily rip shorts in a very sharp countertrend move. Gold is notorious for doing wild unexpected swings that only later come together as jigsaw pieces of standard patterns.

I will refrain from labelling the smaller waves so far to let the count reveal itself.

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