Passe — pas de trade

STATE shows 4 consecutive losses on this day book (last three outcomes L·L·L). The discipline rule mandates a pass this tick regardless of setup after three consecutive losses. Even setting that aside, price is breaking DOWN through the developing day low / pwVAH into open space with confirming-down CVD and 5m delta — the only structural trigger is a fresh-low break, which is a chase into a flush, not a reclaim; no reversal reclaim close has printed.