General rules of thumb on placement would be an area with as little turbulence as possible, always in the water, and as vertical as possible. On my prior E-27, I mounted it in the forward bilge trying to get it ahead of the cut in the keel but still in the water. I think you'll find an area there that is pretty decent. The more vertical the better, but I believe for basic depth, you can approach 15-20 degrees and will not be too compromised. Think of your sounder sending out a cone of waves that behaves like a beam from your old D-Cell flashlight. Aim that light straight down, and you get a nice round pattern, start tilting it, and it goes oblong. Same thing with the depth sounder, and so as that beam becomes more distorted, the greater the error. Airmar, who makes many branded transducers, has a pretty extensive "alphabetized" FAQ here:
http://faq.airmar.com/index.php?action=sitemap&lang=en