As the prices moved down and have formed the triangle, likely breakout is expected to be on the downside. Triangle is a continuation pattern.
If the prices breakdown below the triangle at 119, we have a pattern target of 114-112. The SL for the trade after the breakdown will be 121. That is a 2 point stop for an expected profit of 3-5 points. We will quickly reduce the SL to the top of the breakdown bar to reduce the risk further.
A risk-reward ratio of 1:2 is attractive, as chances of overshooting on the downside are high.
Wait for confirmed breakdown before placing the short.