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The double decrease as shown in this tutorial reduces 3 stitches down to 1 stitch in a left-leaning way. The sl1-k2tog-psso abbreviation is short for “slip 1 st, knit 2 stitches together, pass the slipped stitch over the knit-together stitches”. You may however also encounter SK2P as an abbreviation for this decrease.
As you may already expect, there are 3 main steps in working this double decrease: sl1, k2tog, and psso. Read on to see how it’s worked.
Materials
Yarn: * Paintbox Yarns Simply DK, a good value, good quality 100% acrylic yarn, here in the color 128 Lime Green.
Needles: * KnitPro Zing Fixed Circular Needles. In this tutorial, I used the 4 mm (US 6) size with a cable length of 80 cm (32 inches).
Working a sl1-k2tog-psso step by step
1. First, work your way across the row until you’ve reached the point where you want to make the decrease. In this case, I want to work the double decrease over the 3 stitches in the middle of the swatch. (I worked further in the same swatch I used for my yarn over tutorial).
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2. To start, slip the next stitch knitwise from the left knitting needle to the right knitting needle. Unfortunately no picture for this step, I noticed too late that it was totally out of focus…
3. To work the next step, insert the right-hand needle knitwise into the front loop of the next 2 stitches on the left-hand needle.
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4. Wrap the yarn around the needle…
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5. … and pull it through the 2 stitches.
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6. To finish the k2tog part of this decrease, slide the original 2 stitches off the left-hand needle.
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7. Now for the third and last part of this decrease, insert the left-hand needle into the slipped stitch …
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8. … and pull it over the k2tog and off the right-hand needle to complete the decrease.

The below picture shows how it looks after 2 more decrease rows have been worked.
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