There are some different rules where you use the hour hand, the 12 on the dial and the sun to find the directions. It gets a bit simpler if your watch has a 24 hour hand (and it's set to local time rather than UTC). Me, I think that's a bit more complicated than necessary.
What you need to remember is really a lot easier to remember and it's usable together with a digital watch.
In the northern hemisphere, you only have to remember this:
0600 East 1200 South 1800 West 2400 North (if applicable)
In the southern hemisphere, let south and north switch places.
Document created 2002 June 10 by Urban