Passed — no trade

STATE shows 4 consecutive losses on this book (last three L·L·L) — the risk protocol requires passing this tick regardless of setup after three or more consecutive losses. Beyond that, the gate fired only on a 1m VWAP close below $65,935.4, which is not a valid 15m trigger; price is sitting right at VWAP/dPOC in the middle of developing value with a flat 5m delta and no confirming 15m close, so there is no clean setup even absent the loss halt.