Watch prospect (7)
I believe the answer is:
lookout
I believe this is a double definition.
'watch' is the first definition.
(I know that watch can be written as lookout)
'prospect' is the second definition.
(thesaurus)
(Other definitions for lookout that I've seen before include "A sentry or prospect of luck" , "Observation point" , "Watching person" , "Vantage point" , "Observer; concern" .)