When I looked at the price action of the higher timeframe my training immediately recognized a classic pattern. This yielded a fantastic learning opportunity. I take lots of screenshots to look back on to reinforce what I know and provide reference for future instances. Price action patterns repeat again and again.
What I had caught was a 4 count Wave; the pullback/profit taking following the largest 3 wave. In addition to the 4 wave being easily identified it also fit the rule that the 2 and the 4 wave will have inverse behavior. In this case, the 2 wave was a consolidation and choppy which would suggest that the 4 wave will be quick and sharp. The corollary would be if the 2 wave had been sharp then the 4 would have been choppy. Capturing part of a quick 4 wave is the ideal situation.
Now to see if this pattern completes into a full textbook we can look for a 5 Count Wave to happen next. Price must respect the where it is hanging around as of writing or the 61.8% and then make a move to retest the high. I would not take it long here as the current price action is breaching the prior consolidation pattern and suggesting it will reach the 61.8%.