I like to wave by giving the "peace sign" to anyone that waves at me. And I do it High and outside ! of course, I am only a Trikester (Triglide)....Member of the "Sons of Arthritis" gang here in lower Michigan SE area.:worthy
The Harley waves around my neck of the woods is held low also. Had a guy on Honda tell me that when Harley owners wave they are pointing to the left side of the road with the index finger pointing low meaning WATCH OUT FOR THOSE HARLEY PARTS IN THE ROAD! I just laugh with him, told him to have a safe trip and watch out for those Harley parts and one day you might be able to own a Harley!
By the way he was on V twin 600, go figure?