On Fenix2 (i have recently migrated from F2 to F5X) you could create a track on the go, by saving any activity as a track. Then you could pick it up in the "user data" section, "tracks" and then navigate it. On the 5X, I am unable to find any way to save as a track. One would think that when going into "History" and "Activities", that you could open it in an activity/sport e.g. navigation, but it is only for reviewing. Perhaps it is possible to open the stored activity in Basecamp, then extract and edit a gpx track, but often on the trail for several days in a row, that is not possible. Anyone managed to do this?
I have not found a way to do this. What you can do is navigate and select a previous activity, but that is a pain if you want to navigate something which is old and you do not quite know when it was. I would like to be able to save activities as you describe as I could on older watches, but have not found a way so far.
In Garmin Connect on the interweb. From an activity, click the cog in the upper right and save as course. Obviously not the same as being able to do it on the watch, but I suspect this is now the only way.