1. Create a new file, fill the background with white (#ffffff)
2. Create a new layer, change the foreground color to #750000 and background to #ff0000
5. Apply gradient on the selection make sure you select the gradient style to foreground to background
6. Now create a new layer and name this layer highlight. Now go to menu bar and select select>modify>contract contract by 2
7. Now change the foreground color and background color to white and black select the gradient tool and set gradient style to foreground to transparent.Hold down the shift key and Drag the gradient little bit above the actual selection and drag down.
8. Now hold down the shift key and hit the down arrow key as show below and hit delete
9. Select the text tool and type, add shadow to text, go to blending option and select the drop shadow.When done select the text layer and drag it between layer2 and highlight layer