Passe — pas de trade

STATE shows 4 consecutive losses on this day book (last three outcomes L·L·L). The rule is absolute: after THREE consecutive losses I pass this tick regardless of setup. Even setting that aside, the fired level (dPOC $65,897.5) is a reclaim into a cluster of fair-value levels (dVAH, VWAP, pdPOC, pdEQ all overlapping 65,860–66,075) with a short CCV bias and only flat 5m delta — a poor, choppy location with no clean corroboration. No trade.