1. Stitch no. 3 merges into stitch no. 2, so this will be a decrease. Stitch no 2 is the longest one, so it's a LEFT leaning decrease. Looks like a right leaning decrease but it's NOT. Just watch for the longest line.
2. Stitch no 1 and the decrease are crossing each other - this means we are dealing with a cable.
3. The first stitch has that small horizontal line underneath, which means Purl.
So, in real life that's what we've got to do:
-Drop stitch no 1 at the back, on a cable needle
- Slip, knit, pass over
- Yarn over
- Purl the stitch from the cable needle.
Was this easy or what?
I found this symbol on fleegle's blog here:
I thought it was very well explained (I specially enjoyed the Rising Sun story :)) - if you want to understand more about Japanese knitting symbols make sure you don't miss it.