It looks like more like the big players in the stock market are playing. those upper shadow / lower shadow look like picking stop losses
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Yes, you could call those stop hunting or a bigger order. Who knows, but these happen from time to time.
Usually the big players do this, in forex for example hedge funds at the beginning of the week. They pick the stoplosses of small investors and then play their game. There are also strategies to trade these things with pending orders on both sides of the market. you just have to be there and jump out of the trade in time