If you're really set on a fairy concept, I don't think anything here says "fairy" - she currently looks like a pretty straightforward demon/succubus lady. Horns and wings, mostly - and a tail? (I can't tell if it's a tail or a piece of fabric from her waist-thing!) It's a totally acceptable direction, but it's not communicating what you mean to. (If you google "succubus", they all look roughly like this.)
That said, love your pose/direction in the final, gonna be nice and dynamic. =)