[4][a] Page biographer George Case notes that "Knowing That I'm Losing You" is very similar to "Tangerine"[7] and suggests that Jackie DeShannon inspired the tune.
To develop material for a follow-up album to Led Zeppelin II, Page and singer Robert Plant took a working holiday at Bron-Yr-Aur, a rustic retreat in South Snowdonia, Wales.
[11] Accompanied only by acoustic guitar, hand-claps, and harmonica, the pair created tunes that served as the basis for several songs on Led Zeppelin III and later albums.
[12] Although written earlier, "Tangerine" reflects this rural sensibility[13] and journalist Nigel Williamson includes it with the acoustic material born of the Bron-Yr-Aur sojourn.
[14] Other earlier influences include songs recorded at Mickie Most's Donovan sessions, when John Paul Jones and Page were studio musicians.
Plant then sings the first verse accompanied by the backing guitar chords: Measuring a summer's day I only find it slips away to grey The hours, they bring me pain Bassist John Paul Jones complements Page on mandolin.
Led Zeppelin biographer Dave Lewis calls it "a smooth woman-tone solo"[17][b] After a second chorus, the song winds down with pedal steel fills and ends with an acoustic guitar figure.