Cropped and added labels.

A beautiful waning crescent moon we saw in Monterrey. A propos (by the way) talking about next solar eclipse on April 8, during a total solar eclipse Baily's beads can be seen but we can see them during a normal waning crescent moon phase. In this photo they started to show at the very corner of the "moon horns". In a normal lunar phase the optics are just opposite compared to the ones observed during a solar eclipse. During a normal lunar phase the "beads" are high mountains or craters lit by the sun and the dark spots between the beads are valleys. During a solar eclipse the "beads" are created by sunlight going through valleys and the dark spots between "beads" are the high mountains stopping the sunlight.