In this step, I hatched in the darkest values of each area like this:
On the top of the ornament, the edges were the darkest part and that dark value graduated to a lighter one near the center top. There were some dark reflections in this area that I hatched in, too.
The middle section was darker near the edges, too, and graduated to a lighter value near the middle. I added the reflection of the hook, curving it a little to make follow the form of the ball.
The bottom area was darkest near the edges, too.
The cap had some very dark areas on both sides, down the middle, and where it met the ball.
The shadow cast by the ornament was darkest near the ball’s bottom edge. There was a secondary shadow between the ball and the cap that I hatched in. I darkened the hook and added a cast shadow underneath it.
To finish the shiny ornament, I added the highlight details as follows:
I used a kneaded eraser pinched into a point to lift out the next to the brightest highlights on the ornament’s top. Then I used my battery powered eraser to lift out the brightest highlights. Because erasers aren’t very exact, I used a sharp pencil to reshape the highlights.
I used my kneaded eraser to gently lift a soft highlight in the middle section of the ornament on the left side.
I used my battery powered eraser to tap out the little highlight reflections in the cap and added a thin loop at the top, too. I reshaped all those details with a sharp pencil and added a little value to them if they were too light.