I am the fourth remedy master of dagger who knows the play with this hold. With covers like this, my scholars will injure many. And if I turn to the right and do not let go of your arm, I will take your dagger and I will make trouble for you.
The play of the 4th master is technically simple and instinctive. Against an overhead stab, lunge in with your left foot forward and slightly off line. With both hands, grab the attacking wrist using a sword grip.
Your right hand grabs the wrist and the left supports it by grabbing further down the forearm. Both your thumbs are towards the attackers hand. Stepping offline allows you to move in from a slight angle. You want the dagger blade to point safely off to your right as shown.
The object is to jam and stifle the attack. The earlier you can catch it, the more control you will have over the situation.