Applying the Ellipse Tool (U), try to represent a flare now and mark out its lowest top. Select after that the Convert Point Tool to place the flare the way it is shown below:

The layer’s parameters:
Fill 0% on the layers.
Blending Options>Gradient Overlay

Gradient’s parameters:

Make a copy of the new made layer and select the Free Transform option to turn the layer over. The Convert Point Tool will be helpful in correcting the figure’s shape and changing its parameters:

The layer’s parameters:
Fill 0% on the layers.
Blending Options>Gradient Overlay

Gradient’s parameters: