1. Create a new document: 300px by 300px with a transparent Background.
2. Fill the background with Black, then go to Filter > Render > Lens Flare... Use the following settings for the best effect.
3. Create a new layer on top of the one we have just done and fill that with clouds by going to Filter > Render > Clouds Use the colours Black and White. It should look like this:
4. With the layer with clouds in selected, go to Filter > Stylise > Glowing Edges and use the following settings for the best effect.
5. Now we need to add some randomness to it. Go to Filter > Distort > Waves and use settings similar to these or the best effect.
6. Now change the blending options for this layer to Difference and change the opacity to "50%"
7. Voilla Finished... this is what It should look like.





More Photoshop: