You can knit chevron patterns, like knitted arrows, when you stack increases on top of increases and decreases on top of decreases. The chevron shape comes from the stitches slanting away from the column of increases and toward the column of decreases.
The bottom edge of this pattern forms points or scalloped borders, depending on whether the decreases and increases are worked in a single stitch or spread over several stitches. Although it looks tricky to execute, it’s relatively simple.
Here are some unusual abbreviations in this pattern:
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dbl dec = Double decrease: sl next 2 sts as if to knit, k1, pass 2 sl sts over.
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dbl inc = Double increase: (k1, yo, k1) into next st.
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Cast on a multiple of 12 sts, plus 3 sts (includes 1 extra st on each side for a selvedge stitch).
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Follow this stitch pattern:
Row 1 (RS): K1, k2tog, * k4, dbl inc, k4, dbl dec; rep from * to last 3 sts, ssk, k1.
Row 2: Purl.
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Repeat Rows 1 and 2 to create the pattern.