Knitting Wikia
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This Cast off technique involves repeated Decreases, and creates a nice stretchy edge, which is good for Toe-Up Socks, or any other object where a stretchy finish is necessary. The process is as follows:

  1. Knit two stitches 
  2. Transfer both stitches back to the left needle
  3. K2tog
  4. Knit next stitch
  5. Slip both stitches to left needle and knit them together

If you are binding off in ribbing, knit the knit stitches and purl the purl stitches.

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