Cup and handle pattern on the move index

Here we are in the handle. It's playing out to perfection so far. My plan is to buy in to a bond volatility ETF as the handle reaches key levels as indicated by the horizontal lines. This will allow for a dollar cost averaged approach. So it's a long bond volatility play. If it plays out it could be huge. The handle alone is a move of about 30 from the current level and the full measured move is a peak of about 105 or there abouts. My plan is to take out 20% at intervals on the way to the 105 region unless it spikes to the peak in one go. Who knows. What would cause that to happen? Nuclear war maybe. Invasion of Taiwan and or Japan. Full blown cold war between China and the US. A debt crisis in the banking system. Time alone will tell. Hopefully I'm wrong. I'll put it on as a tail risk hedge for a black swan event at around the 1.5 to 3% size relative to my overall portfolio.