Passed — no trade

The 02:00 UTC 15m candle did reject developing VAL $63,126 by wicking above and closing below, but under the stricter two-loss filter the reaction quality is insufficient: trigger volume was very low and 30m taker delta is flat, so bearish CVD/rising OI/positive funding do not overcome the missing entry-flow confirmation. Pass rather than short a weak developing-level reaction.