optimizing pipeline execution for a set of assembly instructions

I have an instruction set that I am told to reorder the instructions to optimize the pipeline and draw the diagram of its execution. This is using a five-stage pipeline style (Fetch, Decode, Execute, Memory, Write Back). So the diagram would look something like this:

 1 2 3 4 5 6 7 8
I0 F D E M W
I1 F D E M W
I2 F D E M W
... etc

Below is an image of the instruction set. I drew in where I think some RAW dependencies are.

We are using static branch prediction with a not-taken assumption. Since we are dealing with static branch, is it correct to move the Subtract R2, R2, #1 instruction right after the conditional? This way, it is in the branch delay slot and will always be executed no matter what. Is moving that Subtract instruction the only thing I can do? I can't really move or reorder the other instructions because of the data dependencies, can I? Any help would be appreciated. Thanks.