Step 1
Open up a new image document in Photofiltre size 800×600 in white.

Step 2
Using your Paint brush tool make various sizes of dots on your picture.

Step 3
Go to Filter >> Artistic >> Watercolor >> Method 1. Do this step twice.

Step 4
Go to Filter >> Artistic >> Watercolor >> Method 2. Do this step twice.

Step 5
Go to Filter >> Artistic >> Rough Pastels >> Grained Paper.

Step 6
Go to Filter >> Artistic >> Watercolor >> Method 1.

Step 7
Go to Filter >> Visual Effect >> Motion Blur >> Diagonal.

Step 8
Go to Edit >> Fade Motion Blur >> 35%.

Step 9
Go to Filter >> Aged Effect >> Black and White.

Step 10
Go to Adjust >> More Shadows, 3 times.

Final Result