1. Price has broken through the weekly downwards trend line.
2. Price reversed at my dynamic support and resistance level.
3. A strong bullish engulfing candle was presented on the weekly time frame.
4. Price is above my 14 EMA on the daily chart which means that price has formed a new bullish trend.
5. Price has been forming higher highs and higher lows.
*Do keep in mind that there is a strong presence of bullish divergence on the 4H time frame but we have to wait for price to reach my other S/R level in order to see if price bounces from it to confirm my price action analysis.