Passe — pas de trade

The 07:00 UTC 15m candle did reject the tier-one pwVAH at $65,188, but after two consecutive losses it fails the stricter quality bar: 5m delta is flat, 4h OI is flat with a short-covering 24h backdrop, and the tape remains above VWAP with mixed structure. Using a properly buffered stop beyond the $65,221.8 rejection wick, the honest next-major target at dPOC $64,853.5 offers under 2:1 R:R, so no trade.