A Forex traded has discovered a remarkable price pattern in wheat futures. They have found that they can earn excess profits over the market by buying shares at noon, selling them at $2$ PM$,$ then buying them again and holding them overnight before selling at the market open the next day. They can chart this via technical analysis. What forms of market efficiency does this violate? $q,$

Semi$-$strong for efficiency.

Strong form efficiency.

Does not violate market efficiency.

All forms of market efficiency.

Weak form efficiency.