Passe — pas de trade

The gate fired on a 15m rejection wick at the developing dVAH ($79,379), but this is a weak, low-quality location to trade short: the dVAH is a Tier-2 developing edge only ~$40 from spot, price is above daily VWAP ($79,110) with the 4H closing up and the intraday structure making higher lows off $78,402 — the read is contradicted by the broader signals (CVD bullish divergence, F&G 66 Greed, day above D-Open $78,407). Any short from $79,339 needs a stop above the $79,405/$79,711 dHigh, and the first real downside structure (VWAP, then dPOC/dVAL $78,700-78,732) does not clear 2:1 honestly against that invalidation. A minor developing-VAH wick with a bearish 5m delta divergence but no reaction quality is a watch, not a trade.