Gold's Fibonacci Retracement Levels

I've mentioned before that I have serious reservations about Elliot Wave analysis. The biggest problem seems to be their "Alternate Wave Counts" where, whenever something doesn't transpire as forecast, they say the wave count was off but this new, alternative wave count will be accurate.

Fibonacci retracements aren't as bad but practitioners of the dark art seem happy to call a success when an asset pulls back 29% even though the nearest Fibo numbers are .236 and .382.
Sometimes though it works, so you have to watch to see if a price series stalls at one of the magic lines.
Plus this is a nice longer term view of the run up.

From Dragonfly Capital:

(click to enlarge)