This is an example of the next two fib retrace points IF
gold should continue lower rather than reverse upwards
75% of the down leg just made as shown in the bottom chart
The fibonacci retracement points don't tell WHICH direction
gold will move in. They ONLY tell you that IF gold moves in
a direction, where the commodity IS LIKELY to retrace
given different PERCENTAGES of likelyhood. I place the
fib lines in the OPPOSITE direction when gold has reached
the 75% retrace point in one direction, BECAUSE it is LIKELY
that it will reverse (retrace) 75% of the move just made.
Gold COULD continue in the present direction to another level
fib retrace point. If it does, I find the higher level (intermediate level)
of high/low points to use for the next higher level fib points
