Potential Bearish Butterfly @ 61.8 fib of 4hr chart. EUR/NZD

There is possibly a good opportunity to short this pattern IF it gets around the 161.8% fib. if you switch to the 4 hr chart, you can see it falls at the 61.8% fib of the high & low of the 4 hr chart. This in itself is a good enough reason in my opinion to short. Also some previous areas of support & resistance at this level. This would give an excellent risk to reward in my opinion.