Now that you are happy with how your boat looks out of the water, and it's hull is partially visible; it's time to create the reflection.Select the boat layer that is 100% visible.Duplicate it.Go to: Edit > Transform > Flip VerticalYou should have an upside down copy of your boat now.Adjust the opacity of the layer to 20-25%Now select the move tool.Holding down shift, drag the image vertically until it reaches an appropriate position in relation to the boat.