Passed — no trade

STATE shows 4 consecutive losses on this book with last three outcomes all losses — the rule is to pass this tick regardless of setup after three consecutive losses. Additionally, the only "trigger" is a 1m close back above the developing POC, which is not a valid named trigger (must be a 15m close), the tape is dead/flat (near-zero volume, delta flat), and price is sitting AT fair value / the POC — a poor mid-range location the method avoids. No qualifying setup even absent the loss limit.