If Golfshot misses your Tee Shot, access the menu on the watch by swiping left, then select the ‘Missed Shot’ option. Golfshot will start tracking your shot from that location.
If there is an active shot, there will be a orange distance counter at the button with the club for the current tracked shot.
If Golfshot fails to end a tracked shot because it misses an a golf shot or putt, accessing the Golfshot Menu will also provide an option to ‘End Shot’; this ends and saves a tracked shot for that hole.