Most recent major higher low - stops

The premise for a bull trend is that prices goes up. If the price goes up, it will make higher highs and higher lows. If it doesn't make higher highs and higher lows, prices aren't really going up. So if a major higher low is broken, the market isn't trending as steeply as before. The bulls are less confident in their premise and they will probably want to sell high/new highs and buy low instead. It may still continue to go up as steeply, but most likely, it will continue in a broad bull channel, trading range, or even bear trend. And vice versa for bear trends.

I am a bit confused about major and minor higher lows - can someone tell me whether or not i’ve marked them correctly. Green arrows have been used for major higher lows, red arrows have been used for minor higher lows.

All these arrows, (both the red and the green) are major higher lows.

There's a very nice example of nested wedges in this price action. 

thanks for the clarification and additional information, Kevvy!

have a follow up question -

 in the 13(A) video, Al has termed this red circled area as a minor higher low - could you explain why? it seems to be a major higher low given the 2 consecutive bear bars closing on its lows 

Initially it was considered as Major LH

But later on, the other swing high took it out, the Major became minor

thanks for the reply, Mike, much appreciated