Nice idea on XAUUSD and there may be bullish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first support that we have identified is at 1229.8 (100% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal pullback support), which is just below the 1st support level that you have identified. Stochastic is approaching its support at 3.6% where a corresponding bounce could occur. If a bounce does occur, we may look at the 1240 resistance level (50% Fibonacci retracement , horizontal overlap resistance), which is below the resistance level that you have identified. Please have a look at our idea and share with us what you think.