How to work the Picot bind off on the Christmas Cracker Wrap Pattern

This video hows how to work the decorative Picot Bind-Off on the edge of the Christmas Cracker Wrap knitting pattern.
It also shows you how to read your stitches so that you can be sure you are working the picot in the correct place each time.
Step 5 is slightly different for both ends of the wrap. To see the video for the picot placements on the provisional cast-on end of the wrap, watch from 8:15
To work the Picot bind-off:
1. Knit 2 stitches
2. Pass the 1st stitch over the 2nd stitch (one stitch bound off)
3. Knit the next stitch
4. Pass the 1st stitch over the 2nd stitch (one stitch bound off)
5. If you are binding-off after the last lace repeat: Repeat steps 3-4 three more times
If you are binding-off at the provisional cast-on end of the wrap: Repeat steps 3-4 two more times
6. Slip the single stitch on the right-hand needle to the left-hand needle
7. Cast on 3 stitches using a knitted cast on
8. Knit 2 stitches
9. Pass the 1st stitch over the 2nd stitch (one stitch bound off)
10. Knit the next stitch
11. Pass the 1st stitch over the 2nd stitch (one stitch bound off)
12. Repeat steps 10-11 seven more times
13. Repeat steps 6-12 thirteen more times
14. Repeat steps 6-11 once more
15. Repeat steps 10-11 to bind off the final sts
16. Cut yarn and pull through the last stitch to close.