This tattoo represents the goddess Selene, stylized with open arms.

In the complete design the full moon, surrounded by half moons, forms a geometry called sacred seed, symbolizing the seed of life (Selene is also the goddess of fertility).
The upper part extends the motif forming the sacred flower, symbol of the life born from the seed.
The two red waves at the bottom represents the tides ruled by the moon.

A second more stylized version keeps only its main elements:

Both versions incorporate the stylized letters L, N and E.