For all traders in a genuine hurry or ideally for the novice trader is unsure of where support and resistance lines should ideally go. This idea cements a rough (but good) placement of support & resistance lines on your chart.
It's useful for all tradable assets and all timeframes.
Note the Fib numbers to the left - set your fibonacci up just like this and save as 'Fib Support & Resistance' in your Fibonacci template for instant support & resistance lines.