• top bar: floors climbed (up, so it's on top of the watch face)
• bottom bar: precipitation (falling down, so at the bottom)
• right bar: steps (moving on at the direction you point, so on the right)
• left bar: battery
• turning line: date (read the 'minutes' from 1 to 31)

A giant icon will appear when there is a notification, so you won't miss one.