Step one:

Start with a large black canvas. Make a new layer set titled Echo.

In a new layer draw a #FFFFFF eclipse using the eclipse tool. (width: 202 x height: 111)

Add the following layer styles: Outer Glow, Inner Glow, Stroke.



Step two:

In a new layer draw a #000000 eclipse smaller than the white eclipse. (width: 160 x height: 82)

Add the following layer styles: Inner Shadow, Stroke.