I support this suggestion, In fact, I came here to report it and then I found this task.

I like having all "my options" hidden in a drop-down menu, but the extra clicks for Wachlist are annoying. While I don't click on my own profile etc so often, clicking Watchlist is a regular routine. Conceptually, you can expect "new stuff" under Watchlist, which is exactly what you find with alerts/notifications.