I never like using circles much for eeling.
I use the Mustad Big Gun live bait hooks in 7/0 or 8/0 for most of my eeling. After the initial bump I lower the rod while reeling in any slack and then set right up on the fish. I would say the whole motion takes a second or maybe two, waiting 3-4 seconds just gives them more time to swallow the eel resulting in more gut hookings.
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