Open up a new document 320x120 (or whatever you may prefer)
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Now go to filter>render>clouds and add that. You may make the colour of the clouds whatever you like but I like to use red.
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Pull out your stock. I'll be using this one:
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So now you want to add a new layer (CTRL+Shift+N) then make it black(or whatever you desire) with the paint bucket. Then apply the stock to your masterpiece so far and you should have this:
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Now edit your smudge brush. The brush you will be wanting to use is a 13px circle which can be found in basic brushes which is a default brush set that came with your photoshop. Here are the smudge settings:
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Once you have that you're going to smudge your image or render you placed. (Also worth noting that duplicating the render is always not a bad idea).
I got something like this:
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Once you've done that, sharpen the hell out of the render you just smudged. To do so go to filter>sharpen>(sharpen/sharpen edges/sharpen more). You may want to do this 2-3 times per render.
After doing so you will begin to notice "noise" around the edges. This means you've done sufficient sharpening.
Here's what the noise looks like:
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To get rid of it, simply just smudge over it.
Here's what I got after sharpening (I also duplicated the render, smudged it, and placed it where I thought it looked best):
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Now you're going to go to Layer>New Adjustment Layer>Brightness and Contrast, then fiddle around with the settings to your liking. I made mine like this(and yes, I did switch renders, (refer to the top of the tutorial):
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Move that good ol' cloud layer up from before and set it to Overlay>49% and erase the parts that look bad:
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(OPTIONAL) After that add a photo filter Layer>New Adjustment Layer>Photo Filter.I used a cooling filter and got something like this:
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Second to last step, add in your star stock and set it to lighten and erase all the bad parts:
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Last step sort of go to Layer>New Adjustment Layer> Exposure and fiddle with the settings, I used this:
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(OPTIONAL) Add a border.