Sometimes you need to express a meaning such as:
"Nah, not that."
"Uh-uh."
"nuh-uh."
"um-no."
"uh-no."
"no, no, no...not that."
The "wave-no" sign is a way to express such concepts.
See:
https://www.youtube.com/embed/-Ted2zev0wE?rel=0&autoplay=1

Notes: Also see: "Negation in ASL"
Notes: