1. Create a new document 500 pixels x 500 pixels, 92dpi, RGB. Reset the colours to default (d) (x)
2. Apply the following filter: Filter / Render / Clouds Now apply: Filter / Render / Difference Clouds Apply this effect 3 more times (Ctrl + F) x 3
3. Apply the following filter: Filter / Distort / Shear Give the curve a "S" shape. Refer to the image below.
4. Apply the following colour adjustment. Image / Adjustment / Hue and Saturation (Ctrl + U) With colorize ticked Hue: 207 Saturation: 25 Lightness: 0
5. Duplicate this layer and call it (GE Middle) Apply the following Filter Filter / Artistic / Plastic Wrap Use these settings: Highlight Strength: 20 Detail: 10 Smoothness: 8
6. Duplicate this layer and call it (GE Top) Apply the following Filter Filter / Scetch / Chrome Detail: 10 Smoothness: 10
7. Set the "GE top" layer's mode to Soft Light Set the "GE Middle" layer's mode to Overlay
8. That's it you're done. You could used these principals for other effects. This is what I got...
