XAUUSD - Gold - Looking to sell once 3 wave correction is done

Gold broke the ascending trend line and proceeded to drop to 1224 levels. I am looking to stay with the trend once the 3 wave correction is complete. Selling around the 61.8 retracement level ( 1247 ). Placing my stop loss around 1265. Possibly opening up 1200 levels for take profit. Let me know your thoughts on this setup. Thanks.