Here's a correct display of fibs to calculate retracements. Always start at the bottom (.014) and drag it to the very high (.068) and then the retracements are done for you as the SP comes back. And as you can see it came all the way back to the tweezer bottom of .028 (approx 72%) and bounced.
In my experience the 62 -78%'s retrace is a very popular level.
Now there is another use of fibs and that is to calculate potential SP targets when an SP is rising strongly. Lets post those displays when it's happening.
Anyway, time get on with it.
Cheers.
click on chart to enlarge
Here's a correct display of fibs to calculate retracements....
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