I really liked this setup right at the London open. Unfortunately the bear move reached only 1.6R of my 2R target.
After crossing down both M1 and M5 moving averages I locked in profit above them to give price some room with levels of possible support. However, the usual strength of the movements around the London open took price up again giving me 0.88R.
I was close to taking the M15 MAB also but passed as it was too close the to the 8am open.
Well managed to get 0.88R from it as price moved back up and would have hit your stop.