Yes, the concept makes sense. I would define the difference between counter trend and cycle trading in this way:

Cycle trading attempts to identify a dominant cycle and buys/sells its bottoms and tops.

Counter trend trading buys when the price moved down by a certain amount, and sells when it moved up by a certain amount. It can very well use a cycle for determining what a "certain amount" is. But it does not enter at bottoms and tops, but when the cycle goes below/above a certain threshold.