I'm currently looking for sell trade plan in XAUUSD ( gold ) chart.
First thing first, When i want to enter the trade. it is better if i have more than a reason to enter.
This time there is two option of time to enter the trade
1st is wait until the price reach the and support resistance.
2nd option is to wait until The price is also reach the but also reach 0.618 fib.
The different about both option is the correction time. I don't know which one but if the price reach one of those option i will perform breakout strategy.
even i'm expecting for the gold price to retrace until fibo 0.618. does not mean it will come to that point. Some times the price can retrace only up until fibo 0.382. But if the price arrive at fibo 0.382. I will not enter the trade, because it is just does not suit my trading style and strategy.
So please feel Free to use your own entry and exit strategy.
Good Luck and Trade Wisely