Enable subtract form shape area from the top bar. Create an ellipse using elliptical shape tool inside the first ellipse.



Change the color to orange.



Double click the layer to open layer style window. Apply layer style with the settings shown.







Duplicate the layer for the opposing blade.



Create a circle using elliptical shape tool. See how it's starting to take shape.



Double click the layer to open layer style window. Apply layer style with the settings shown.



Once you're happy with the settings, your end product should look similar to this.