Ok, then gaps represent a backlog of orders that could enter the market at the break-even point and be forced to be used, or else losses may ensue. I am not sure how much demand there is to sell at the break-even point -- lest losses would be incurred -- among the professional traders. But the intent is clear : to force to sell (for a gap down) or to force to buy (for a gap up) in order to have no free riders for the move in the opposite direction. It is similar to running stops of top- or bottom pickers. This explains why wave 2's turn around at the gap areas which are part of wave 1. Incidentally, this explains the purpose of wave 2: to clear the majority of the orders (up to 78%, I guess), which were misplaced or placed late, before resuming a trend.  Then the purpose of wave 4 is to force the majority of orders to sell prematurely rather than at the point of completion of wave 3. The purpose of wave 5 is then to force to sell those who entered the trade prematurely anticipating a reversal.

This whole thing makes sene to me now. Thanks for feeding me with relevant information.