Passe — pas de trade

The gate fired on a 1-minute wick-and-close-below VWAP ($78,669.5) — a 1m close is never a valid trigger on this book, and the last CLOSED 15m candle (07:00 UTC, O $78,690.8 H $78,752.8 L $78,651.9 C $78,663.8) is an inside doji straddling VWAP, which is neither a rejection nor a close through any level. Price is pinned at daily VWAP/dPOC ($78,669.5 / $78,723.5) in the middle of the developing value area with the day's structure choppy (5m/15m drifting down off $79,161.8 while CVD reads confirming_up and 5m delta is a bullish divergence) — the flow contradicts a short and the location is mid-range, so a continuation entry is forbidden here too. No confirming 15m trigger, no edge location: pass.