Passe — pas de trade

STATE shows 4 consecutive losses on this book with the last three outcomes all losses — after three or more consecutive losses the rule mandates passing this tick regardless of setup. Beyond that, no valid 15-minute trigger has printed at the dVAL: the gate fired on a 5m close below $65,619, and a 5m close can only corroborate, never stand as the named trigger; the most recent closed 15m candle ($65,872.9→$65,823.6) is above dVAL and did not close through or reject it.