From TradingView · · 1m
Gold: Wait for correction to finish before buying
Gold traders wait for a full correction to end before entering long positions on XAUUSD.
In brief
Gold traders wait for a full correction to end before entering long positions on XAUUSD. Gold traders require a completed price correction to confirm entry points before buying. Originally reported by TradingView.
Gold closed below support
Gold closed Friday at 3,995.81, below the 4,079, 4,096 support area discussed in my September idea.
Current correction question
The current question is where the whole correction might finish, rather than whether the next small bounce is worth buying.
Larger wave context
The advance from September 2022 low at 1,614.925 to January 2026's 5,602.225 high provides the broader context.
Working count analysis
The working count treats this year's decline as a complex correction with another downward leg still possible.
Main scenario: wait for completion
I would need a completed decline, a reversal and a successful retest before considering an entry near 3,757.
Alternative scenario
If October 23's 3,975.65 low holds, the orange path allows an initial recovery toward 4,399.67.
What to remember
Gold traders require a completed price correction to confirm entry points before buying.
