How to use the histogram to get a better exposure?
Another point to consider is that the histogram is based on a JPEG image of the shot that you are taking.
If you shoot in RAW, the camera will capture more tonal detail (as it is captured in a 12-bit or 14-bit form, rather than the 8-bit limit used by JPEGs); so you may be able to recover highlights that appear blown out in the graph using RAW conversion software.
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