[Nate Smith]

Here's a bit of code which will do what you want:

'in variable declaration section
seq1_flag VAR bit

'in main loop

'Check 2nd condition first to allow for continuous action, and not just one loop
if p2_sw_top = 1 AND seq1_flag = 1 then run_seq1

'Check first condition
if p1_sw_top = 0 then skip_seq1

'if we got here, condition 1 is true, set flag
seq1_flag = 1
'jump out of sequence loop
goto seq1_done

skip_seq1:
'first condition is not met, clear flag
seq1_flag = 0
'jump out of sequence loop
goto seq1_done

run_seq1:
'both conditions met, set value
p1_y = 200

seq1_done:
'end of sequence loop