My recommendation would be to never EVER place a stop above a non market generated pivot level. Projected Support and resistance like R1 and S2 are just that, projected.
Until a market CREATES a previous swing high/low it doesn't take much effort (money) for the level to be touched.
I highlighted in blue where a more proper stop could have been placed. In red are others throughout the day if you were trading to the downside.
Professional operators will not put capital to work unless they see an opportunity or have an objective to fulfill, keep this is mind when looking for places to put stops.
Stops places a couple ticks above/below a prior swing high or low, above a consolidation area or just below.above a retracement are ideal.
In my opinion stops placed above below projected support or resistance such as pivot calculations, fibbonacci levels, market profile
value areas, etc. etc. are less than ideal.