Passe — pas de trade

The gate fired on a 5m close below pdVAH $83,910 — but a 5m close is never the trigger on this book, and the most recent CLOSED 15m candle (14:00, O $84,560 H $84,580.6 L $84,069.3 C $84,312.3) closed ABOVE pdVAH, so no 15m close through the level has printed. The tape is also conflicted: price spiked to $85,593.6 (dHigh) then dumped back through pdH/pwPOC/W-Open/VWAP in one hour — a failed-auction shape forming, not confirmed — while 4h CVD reads confirming_up and OI is building against the short, leaving no corroborated directional read. No trigger, no trade.