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Many people seem to think all but one parrying item is useless, but everyone has one they can parry with without much practice. This dagger has extended parry frames like the shields, but the timing is very different. If the shields seem off in their frames to you, this dagger may be a better choice.
I much prefer the target shield over this. It looks better, and has earlier parry frames.
This looks great alongside the Lothric Knight Sword.
i can parry almost anything with this inclouding the fume ultra great sword (lol my spelling)