That's exactly how to P&G a diesel, as it has no throttle and it's most efficient at the torque peak, usually around 2000 rpm.
I can't do that with my automatic, and as a result, I don't P&G except at low speeds on side streets where I glide to an intersection. At higher speeds I just make sure my torque converter is in lockup (>40mph), and either engine brake to a stop or put the transmission in neutral depending on how far ahead and the slope to the next intersection.
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I'm not coasting, I'm shifting slowly.
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