Looks more like the view from near Humphrey's summit. Am I wrong?
You are right. Perhaps my definition of the saddle is different. I would welcome your suggestion on how to write it.
The saddle in this case is the low-point visible near right-center in the photo. It's the low-point on the ridge connecting Humphreys and Agassiz. As for wording it, I'd call it 'Agassiz Peak as seen from the ridge leading up to Humphreys Peak' or something similar.