Shorting a lower high off the open should be in everyone's trade book. It's a low risk, high reward trade.
Market & Stock gaping up or down is OK.
Looking for a lower high after the first move.
First lower high is usually best scalped if it starts to pull back from the previous low because you don't know if it's a trend reversal.
On a first lower high I normally cover 50% share size at the first pause or stall at or below the previous low. I then add on the second lower higher or right side of the "M".
Second lower high confirms the trend is down, now you can ride the trend down.
Indicators: 9 ema, 20 sma, VWAP, near or slightly above your entry point.
Entry: under the inside top of the second part of "M".
Target: Expect at least twice the depth of the "n" or "M".
Target 1: sell 1/2 position at twice the depth of the "n" or "M".
Target 2: sell 1/2 position again, over the 9 ema or on a large spike down or at whole number.
Close Trade: the last 1/4 of your position closed out over the 20 sma.