Passe — pas de trade

STATE shows 4 consecutive losses on this book (last three outcomes L·L·L). After three consecutive losses the rule is to pass this tick regardless of setup. Additionally, the only fired level is daily VWAP on a 5m reclaim — but a 5m close is never a valid named trigger (must be a 15m close), and the tape is dead-flat/low-volume with delta flat (Σ -1.9 BTC/30m), CVD confirming_down, and no meaningful reaction — a poor-quality location even without the loss-streak veto.