I did not place a lot of work in this, I just wanted to have an example to show you.
You have to understand the perspective of the path of the bullet.
The bullet you provided would be very difficult to manipulate into the correct perspective. You could re-create the bullet, which I started here....
But before I was done I found a bullet online that was very close to the correct perspective.
I then added the muzzle flash to the image........
And I changed it's layers blending mode to Screen.
It's not perfect, but it will give you some idea how to go about accomplishing this effect.
