Select Blending Options>Inner Glow

Fill 0% on the layer. This way we’ve got several highlights on the icon:

Let’s represent one more circle colored with #F36523

Mark out the last made circle, press Alt button and cut out a half – moon element:

Set the next parameters:

We’ll get this way a half – shadow:

Now we need to select the Ellipse Tool (U) and represent two circles of different sizes. The color’s code is #FEDB8A

Next we shall use the Rounded Rectangle Tool (U) (radius of 30 px) and represent a bended rounded line.
1. Represent the line
2. Insert the points of the bend, applying the Add Anchior Point Tool, bending the element with Direct Selection Tool (A) and Convert Point Tool.

Place the new element as below:

Apply for the new layer Blending Options>Gradient Overlay

Gradient Editor:

We’ll get the next result!

Next we shall draw one more element, but a bigger one, having the icon finally finished!

View full size here.