Passed — no trade

STATE shows 4 consecutive losses on this book with the last three outcomes all losses — after three consecutive losses the rule is to pass this tick regardless of setup. Additionally, the only trigger is a 15m close below the developing day low, but the day low is a fresh extreme in a session grinding lower with no defined level beneath it (dLow is the developing low itself), which is a flush, not a clean reaction — no reclaim/SFP has printed. Both the risk-state rule and the absence of a valid confirming reversal trigger mandate a pass.