1. Cast on 120 stitches.
2. Work in stockinette stitch for 10 inches.
3. Shape armholes by binding off 5 stitches at the beginning of the next 2 rows.
4. Continue knitting until armhole measures 8 inches.
5. Shape neck by binding off center 20 stitches and knitting each side separately.
6. Work each side of the neck separately, decreasing 1 stitch at the neck edge every other row until 3 stitches remain.
7. Bind off all stitches.
8. Sew side seams and weave in loose ends.
9. Block sweater to shape.
10. Enjoy your new loose fit knitted sweater!