Bracketing is one more tool that you can pull out of your photographer's toolbox to save or improve your photographs. You probably won't use it every day, nor do you want to use it in every scene. In my video I show you an example as well as a few photos that I created using bracketing
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You should know your equipment well enough that this should never be an issue.
Auto Exposure Bracketing (AEB) definitely exists on my Canon 450D - I had never thought to use it in continuous mode though, so had found it frustrating having to remember to manually shoot in groups and be careful not to get out of sync with the bracket!
It lets you adjust the spread in third stops up to +/- 2 stops. It also gives you a 2 stop each way range about a compensated exposure up to a further 2 stops.
Ie - if you crank exposure compensation up to +2, the brackets can be 0, +2, +4