This idea work for swing trading and position trading in general the targets vary from 16.00 to 22.00 respectively based in past resistance levels.
This type of simple analysis is for a long term trade,
The setup of the chart is weekly bars with a ten year view in a Top-Down Analysis
For my Analysis I use weekly and but with a different set up of the moving averages
I also look , but the the interpretation is no a exact science and I do not put fancy names to .