Passe — pas de trade

Only a short may be recorded on this book, but the structure does not support one: the named 15m close (12:45 UTC) wicked BELOW VWAP $77,579.8 and closed back ABOVE it — a bullish reclaim, not a bearish rejection. The 15m loss of pmVAH $77,682/dVAH $77,809 is inside a day that is otherwise trending up (day open $76,748.8, higher lows, CVD bullish divergence, 24h OI healthy uptrend), so a short there fades momentum into VWAP/dPOC support with no confirming bearish trigger and 5m delta flat. No valid short trigger = pass.