Reflected Text

1. Type the text over the image which has a reflectable surface.
2. Duplicate that layer as "reflection" and move it under the character layer.
3. Layer > Transform > Flip Vertical to make the reflection image.
4. Then move it below the main text. The more you separate it from the bottom of the character, the more depth of the reflection you give.
5. Change the color of the reflection to the lighter one.
6. There can be many ways to lighten the reflection image to simulate the reflection. I just used Motion Blur for this simple exercise.