|Al's Photoshop Tutorial||Old Course (Versions 4.0 through 6.x)|
A good counterpoint to shading is highlights, where parts of the image are airbrushed lighter. You have to be kind of careful to keep it subtle, because highlight can make things look wet or rubbery if it's too bright or too sharp.
Start this layer off the same way as the shade layer, by making a copy of Color, but this time call it Highlight. Use the same old process to get rid of the black linework, but this time you'll want to fill the rest with black instead of white. Move this layer just above the Shade layer, and set its mode to "Screen". Screen works the opposite way of multiply; anything black will be left alone, and lighter colors will lighten the image below. Remember to turn Preserve Transparency on.
Other than that, the process is almost exactly the same for drawing highlights, but remember the key to good highlights is to be very subtle. Here's an example of our Wolfy guy without and with highlights:
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