Welcome To VertexTemplates.com Photoshop Tutorials Area - Z swoosh

Open up a new document, in this particular one I made one 240x205

Select the elliptical marquee tool, hold down shift then click and drag to make an oval. Similar to this

Now while still on the elliptical marquee tool hold down alt and draw another circle that overlaps the previously drawn one. Then make a new layer.

Edit>Fill>Black

Now right click the layer and select Blending Options, add these settings.

Edit>Transform>Perspective

Now click the bottom right corner and drag it to the left end, making this

Filter>Stylize>Find Edges

Filter>Blur>Gaussian Blur

Here's what I got