Passed — no trade

STATE shows 4 consecutive losses on this day book — after three consecutive losses the rule is to pass this tick regardless of setup. No trade permitted. Beyond that, the fired level (developing POC at $65,618.5) is fair value in the middle of the developing day range, not a strong tradeable location, and the 5m wick-and-close-below is a 1m/5m event with no confirming 15m trigger — the most recent closed 15m candle closed UP at $65,656.4. Price is chopping around VWAP/POC with flat delta, no clean edge.