On the daily timeframe price broke through the market structure previous low, creating new HHs & LLs. Demand zone on 4hr/1hr timeframes lining up almost exactly with the support level on 4hr and daily timeframes. If fib placed at the bottom of the move up the demand zone lands right on the 61.8% creating a golden zone. Price slowed down around this area and created a bullish engulfing on 1 hr. risk to reward 5:1