Imitation Tweed Dress - Building the pattern II

Waist styling

Finish the decreases for the waist and end on a RS row (reverse stockinette facing you).
Slide the first stitch off the needles and put it on a safety pin for later pick-up. Bind off all the stitches except the last one loosely, but not too much. Either relax your tension while binding off, or use a needle one size larger to perform the binding off. Knit the last stitch. You now have a single stitch on your needle. Don't lose it!

Turn your work, slip that first stitch as if to purl. Pick up all the stitches you just bound off, 2 rows below where you bound them off. Pick up the stitch you left on the safety pin. At first, I used a crochet hook, but it is quicker and neater to just thread your knitting needle through the loops two rows below the bound off row. In that case, you actually have to pick up the stitches from the end of the row, starting with the one you left on the safety pin and ending with the one you left on the needle.

When you turn your work so the RS is facing, it should look like this. The bound off row forms a little ridge.

Next, work the waist band in stockinette stitch (instead of reverse stockinette stitch) over however many stitches you have on your needle at that point. For me, that was 64 stitches. You need to decide how many rows to do. You can eyeball it (stop when it is high enough), or you can figure out how many rows V4 turns out to be for you. For our example:
(10 cm X 10 cm square = 20 stitches, 26 rows)
V4 = 5 cm --> 13 rows

End on RS (work an extra row if necessary) and work another ridge. After the ridge, resume the reverse stockinette stitch. As a reminder, this is the effect we are going for:

Next time, the top!