Update GLUU move downwards

Update on the GLUU move down, in my opinion, price is currently moving on the third wave down this corrective wave (red). If third wave is broken down into 3 waves, I see the 3rd wave being broken down into a 5 wave compulsive waves moving downwards (blue). Currently, the 4th wave of the blue wave is at the 0.382 retracement of the previous wave 2 and 3, and I am expecting it to move down to the $7.40 to $7.52 range before making a support and moving back up again.