FATAL FRAME: Mask of the Lunar Eclipse

At one point in the game you'll get an alarm that lets you know when you can pull off a Fatal Frame. It'll flash a red light in the upper side of the camera viewfinder, below the "ghost compass" thingy. This will happen when a ghost is attacking, just before it hits you. Wait until you see the light flashing red, then pull RT to perform a Fatal Frame. You can check if you hit it on the left side of the screen. Once the ghost recoils, the light will flash again, so that's your cue to take another photo. Pull off a third one in a sequence and you'll pop the achievement.

It seems that some ghosts will also not stop flashing after you hit the first Fatal Frame, so you can just mash RT and get this quite easily.

Also, keep in mind that ghosts get pushed back when you hit a Fatal Frame, so try to position yourself and the ghost in a way that it won't get pushed into a wall, otherwise you'll miss your shots even if the ghost is locked on the camera and the light is flashing red.