1) Make a new document, anysize doesn't matter. Now press "D" on your keyboard to reset the foreground and background colors to black and white. Make sure your background is BLACK.
2) Go to Filter>Render>Difference Clouds. Apply this filter 2 times.
 Now apply a few Filter>Render>Lens Flare:
 3) Now apply Filter>Stylize>Wind and apply this effect from the left and from the right:
 4) Add some waves, Filter>Distort>Wave with these settings:
5) Now add some color (CNTRl+U):
6) Duplicate the layer. Now rotate the new layer, Edit>Transform>Rotate 180. Now change the blending mode for the top layer to Overlay.
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