Hello everyone,

 I just have a newbie question regarding price action trading.  If using a 240 minute (4-hour) chart I count the price action and determine the pair's in a downtrend.  Is it reasonable to play the upside move on that pair as it travels north to establish a new higher-high after forming a new lower low?  

 I was thinking I would set the stop at the new lower low and ride the price up at least beyond the previous bar.  Is such trading a bad idea / low probability for success or is that a reasonable approach?

Thank you!