Hello, C.G....
Yes, that's the correct sequence of the recovery action. However if flying power, I seem to remember you should ease off on the throttle as well.
A spin is an event when one wing is stalled and the other is not, and auto-rotation takes place. In many gliders, simply easing the stick forward a bit will bring it out of the stalled condition. This may be the same for power, but I expect that depends on the type, and how established you are in the spin, and if it is a "flat" spin! Pilots that attempt the flat spin are usually wearing a parachute!
Position of the stick fully back is the giveaway.....ease it forward and see what happens! (assume plenty of height, of course.
Mary