IPL Panel error A6005008

I am receiving the following error on my V7R1M0 system after an IPL.
Apparently this message conveys that the console is not attached. I have no
physical console, Am having trouble doing a manual IPL from the panel.

The way that I understand it, I need to:

1. navigate to function 02,
2. Press Enter
3. Select B
4. Press Enter
5. Select M
6. Press Enter twice
7. Press the power button twice.

When doing so, the panel displays the following:

01 B M V=H
T


And the system does not restart.

Thanks in advance for the advice or link to more detailed instructions.