The 15-minute Answer

A terminal wave can be a Wave 5 as well as a Wave C. What is important is finding the area with the muted & dropping counter-directional volatility.
On the 15-min chart you should see a sequence of 3 or 4 spikes where the last 3 would be (in order) the Measuring leg, the Divergent leg and the Beat.
The Beat would normally exceed the Measuring leg on Eur/USD by 7+, 15+ or 22+ pips.
The translation is that once you have a Measuring leg and the Divergent leg printed, you should make an effort for scaling out of your directional holdings and start getting in at every step with 1/3 of your pre-determined maximum size.

I have spoken of the Wave 2 (and Wave 1) having to be confirmed by the Market Makers which means that the wave would have to cross Mr. Maroon on one side at the very least.