Make a copy of the new made circle and select the Free Transform option to enlarge a little the copy. We need to select different parameters for the copy too.



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



Gradient’s parameters:





Make one more copy of the last made layer, choosing again the Free Transform option to change the copy’s shape and apply different parameters also.



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