1. Start off by creating a new document (300x300), and use a black background:
2. Create a new Color Balance adjustment layer (Layer > New Adjustment Layer > Color Balance), and in the Highlights settings, insert the following values:
3. Now using medium size brush with a white foreground, make a new layer under the adjustment layer and start making some marks:
4. Now, use your smudge tool and start pulling along the outside of your explosion to make it more rigid:
For best results, just start dragging inwards and outwards with a large brush.
5. Make a lens flare (Filter > Render > Lens Flare), and make the brightness around 150%:
6. Using the smudge tool again, start dragging inwards around the outer circle of the flare:
7. And that's it! Add some text or other objects and good luck!
More Tutorials: 
