Here is a tip if you are going to be using stop loss.
Try and not set it right above or below the daily high or low. Those are very common stop loss areas and traders know there is a lot of volatility in those areas and will usually try and run them. If you put it in those areas you need to put it much earlier than the daily pivot or further away.
Support and resistance(S&R) zone help find those areas of less volatility. It is eminent to place stop loss few pips below those S&R zones since it is a rare case for price to retrace below the zones especially in trending and range market. To catch the best out of this stop loss means joining the trend when it just broke into an existing trend like forming either new supports or new resistance depending on the trend.
Or just enter a trade where you normally would put your stop.
If the trade is entered where stop loss is fixed it doesn't guarantee the analysis is right. I think the idea of stop loss is to prevent excess loss incase the analysis goes wrong so in that case even after waiting for the price to hit where the presumed stop loss was meant to be and it the trade gets executed a stop loss will still be needed incase things goes wrong.