These are the techniques used..so you can have a better idea...
step 2 of 9
Using pen tool, create background around a half moon... fill with black, leaving a white "half moon" part and a white horizon line....
step 3 of 9
Now onto the black, with a hard brush...draw the horizon line and add some colour of pink, all meeting the side focal point.
Then begin to smudge, using Dry media brush #28, in a downward motion, to simulate waves...
step 4 of 9
This is the result you will get...pay around with it..I had to do it several times to get it right... Further hold the "alt" button while in smudge tool, this will add spots of pink colour to image while smudging. This colour will be lighter in opacity, giving the "darker" shades between the waves...
step 5 of 9
Now make the darker shade in the bottom of the image, by adding a lighter opacity of the pink to the ground( hard brush) and smudging it using Dry Brush #6.... smudge , smudge, smudge!!!!
step 6 of 9
This is the result after lots of smudging!
step 7 of 9
Now do the same with the sky, adding spots of colour with hard brush and smudging it with Dry brush #6 and #60 ;)
step 8 of 9
Continue smudging to create full clouds...
step 9 of 9
Now for the halo, just paint it with a soft brush and erase the middle...and for the light on the waves, just add more pink to them and onto the shore, to make it look as if the moon is hitting ;)
and that is that :P