The caracole was a tactic very much criticized by military historians who didn't fully understand its use, especially Charles Oman.
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John Cruso, for example, explained the "caracoll" as a maneuver whereby a formation of cuirassiers would receive the enemy's charge by wheeling apart to either side, letting the enemy rush in between the pincers of their trap, and then charging inwards against the flanks of the overextended enemy.