No, this is a variation on a circle parry and a counter circle parry. Both are commonly taught in French and Italian style foil fencing.
A circle parry is when you avoid your opponents blade by moving your blade around theirs in a circle. A counter circle parry is circling around your opponents circle so that they can’t get their blade past to stab you.
When two fencers know each other well, this often happens. It becomes a game of chicken, it only ends when someone is willing to risk leaving an opening so that they can launch a different attack.
The foil version of this happens at least once a practice on my college fencing team. The only difference is that the blades are horizontal rather than diagonal.