Change the settings on the stud finder to "Electric" or "Metal." Many stud finders have the ability to detect not only studs but metals as well.
Place the stud finder's underside flat against the wall and move it from left to right over the sheetrock. Keep moving it until you hear a series of continuous beeps or the LED on the stud finder lights up (depending upon the model).
Reslide the stud finder over the area where the wiring was detected and verify that the tool continues to beep or light up. Mark this area of the sheetrock with a pencil for future reference.